Morgan Stanley upgraded HP Enterprise (HPE) to Overweight from Equal Weight with a price target of $28, up from $22. The firm believes accretion from the Juniper acquisition and multiple upside is not being priced into the shares. Morgan Stanley’s bull case valuation of $39 assumes HP Enterprise trades in-line with peers, the analyst tells investors in a research note. The firm believes the July quarter results for enterprise hardware should modestly outperform expectations as artificial intelligence spend is robust and PCs were solid in Q2.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HPE:
- HP Enterprise added to ‘Tactical Outperform’ list at Evercore ISI
- Arm Poaches Amazon’s AI Expert to Boost In-House Chip Ambitions
- Hewlett Packard Enterprise to Redeem $2.5 Billion Notes
- DA Davidson technology analysts hold an analyst/industry conference call
- Hewlett Packard Enterprise call volume above normal and directionally bullish