Hewlett Packard Enterprise (HPE): Raising PT Despite Mixed Results - Baird

November 23, 2016 8:14 AM EST
Get Alerts HPE Hot Sheet
Price: $22.77 -0.39%

Rating Summary:
    12 Buy, 9 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Baird analyst, Jayson Noland, reiterated his Outperform rating on shares of HP Enterprise (NYSE: HPE) and raised his price target to $24 after posting revenue/non-GAAP EPS of $12.5 billion/$0.61, compared with consensus of $13.2 billion/$0.58. Management highlighted the focus on driving profitable market share, despite the challenges of an uneven global demand environment.

F17E EPS guidance was in line with consensus expectations and the analyst believes the company will continue to perform relatively well in Storage and Networking but face difficulty achieving profitable growth in Server.

The PT of $24 is up from $23 based on ~10.5x C17E EPS giving 50% credit for the OpCo Net Cash.

from $23.

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 $22.87 yesterday.

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Robert W Baird, Jayson Noland

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