Hewlett Packard Enterprise (HPE): Cash Is King - Susquehana

October 11, 2016 7:24 AM EDT
Get Alerts HPE Hot Sheet
Price: $21.60 --0%

Rating Summary:
    11 Buy, 10 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 26 | New: 7
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Susquehanna analyst, Mehdi Hosseini, reiterated his Neutral rating on shares of HP Enterprise (NYSE: HPE) noting that the rising cash position is a reason to be encouraged, but the Analyst Day should offer further insight on its strategy to address key secular trends.

The analyst believes that capital allocation and HPE's Enterprise Group (EG) next-gen strategy will be front and center for investors at the company's analyst day on 10/18 next week. Recently announced spin-offs (combined with other divestitures) are set to materially increase HPE's “operating” net cash to as much as ~$9B exiting FY17.

No change to the price target of $20.

For an analyst ratings summary and ratings history on HP Enterprise click here. For more ratings news on HP Enterprise click here.

Shares of HP Enterprise closed at $22.50 yesterday.

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