HP Enterprise (HPE) PT Lifted to $26 at Needham & Company
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Needham & Company analyst Richard Kugele reiterated a Buy rating and raised his price target on HP Enterprise (NYSE: HPE) to $26.00 (from $24.00), saying the future company is coming into focus.
Kugele commented, " We believe the HPE of the future is beginning to emerge from the cloud of divestitures, restructurings, and turmoil that has plagued the company for much of the last decade. With a focus on hybrid IT, intelligent edge solutions and associated services, we think HPE should be able to achieve a level of growth in F18 and continue to deliver meaningful capital return to shareholders. Based on the improved transaction value of ES (and slightly higher HPE standalone EPS) we are adjusting our PT to $26 from $24. Maintain Buy"
Shares of HP Enterprise closed at $21.47 yesterday.
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