Jefferies Cuts Price Target on Hewlett Packard Enterprise (HPE) to $27
Jefferies reiterated a Buy rating on Hewlett Packard Enterprise (NYSE: HPE), and cut the price target to $27.00 (from $29.00), following the company's 4Q earnings report. Revenue hit $12.5B, below consensus of $12.8B. The revenue shortfall was chiefly driven by Enterprise Group and Enterprise Services. EPS totaled $0.61, above Consensus of $0.60.
Analyst James Kisner commented, "Q4 EPS was in-line, the net result of lower than anticipated revenue offset by margin expansion and lower overhead costs. We continue to believe HPE shares offer a compelling valuation and will continue to rise as investors become more comfortable with HPE's revenue and free cash flow outlook."
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.