Truist analyst Matthew Niknam initiated coverage of HPE (HPE) with a Buy rating and $31 price target The firm is positive on the company’s evolution into a “scaled” networking and hardware platform. HPE has double-digit earnings growth prospects, supported by “sizable” cost synergies, free cash flow generation and share buybacks, the analyst tells investors in a research note. Truist views the stock’s valuation as “undemanding” at current levels.
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