UPDATE: JPMorgan Upgrades HP Enterprise (HPE) to Overweight

January 15, 2021 4:15 AM EST
Get Alerts HPE Hot Sheet
Price: $14.52 -0.21%

Rating Summary:
    15 Buy, 17 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - January 15, 2021 5:22 AM EST)

JPMorgan analyst Paul Coster upgraded HP Enterprise (NYSE: HPE) from Neutral to Overweight with a price target of $16.00 (from $13.00).

The analyst comments "HPE is trading at 7.7 times our CY21 PF EPS estimate, a 10% discount to the three-year mean forward P/E multiple, which we view as unjustified given the firm’s swift rebound to pre-pandemic run-rate, improving momentum in the growth segments and the cost-containment program, improving FCF outlook. The stock looks attractively valued relative to its peer group, too, trading at a discount on a P/E, P/sales, and EV/EBITDA basis. We view HPE as undervalued here; we expect a re-rating on continued solid execution, and we look for this stock to outperform the mean of our coverage in the next 6-12 months."

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 $12.48 yesterday.


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