Mizuho Securities Raises Price Target on Hewlett Packard Enterprise (HPE) to $22

November 23, 2016 8:18 AM EST
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Price: $22.86 +0.75%

Rating Summary:
    12 Buy, 9 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Mizuho Securities reiterated a Neutral rating on Hewlett Packard Enterprise (NYSE: HPE), and raised the price target to $22.00 (from $20.00), following the company's 4Q earnings report. HPE reported total revenues of $12.5bn, ahead of the consensus of $12.8bn. ES came in at -6% Y/Y as growth in APJ was offset by softness in EMEA. Management reaffirmed its revenue growth outlook of -1% to flat in constant currency for next year. EPS outlook of $2.00-2.10 was reiterated as well vs. consensus of $2.04.

Analyst Abhey Lamba commented, "HP Enterprise reported results today that came in below estimates on the topline while EPS was a penny above. Hardware end-markets remained challenged which, in our view, is likely to persist in the n-t. Management reiterated its outlook offered at its analyst day meeting. We acknowledge efforts to rationalize the portfolio, improve profitability and return cash to shareholders, however, we remain uncertain of a return to growth in the n-t. Maintain Neutral rating while adjusting PT to $22 from $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 $22.87 yesterday.

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