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Evercore Upgrades Hewlett Packard To Outperform, Increased Price Target Implies 42% Upside

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Evercore Upgrades Hewlett Packard To Outperform, Increased Price Target Implies 42% Upside
  • Evercore ISI analyst Amit Daryanani upgraded Hewlett Packard Enterprise Co (NYSE: HPEto Outperform from In-Line with a price target of $20, up from $16, implying a 41.8% upside.
  • Daryanani believes that the stock can outperform substantially at the current valuation and the low multiple provides a healthy level of downside protection. 
  • He estimates HP Enterprise, via a combination of organic tailwinds and self-help levers, should see a path toward mid-teens EPS/free cash flow growth over the next few years, which should enable the stock to work toward a $20-plus price. 
  • Daryanani considers the H3C stake and Oracle Corp (NYSE: ORCL) lawsuit win as sizable value creators that could extend optionality for HP Enterprise.
  • Price action: HPE shares traded higher by 1.13% at $14.26 in the premarket session on the last check Monday.

Latest Ratings for HPE

DateFirmActionFromTo
Sep 2021Raymond JamesMaintainsOutperform
Jul 2021Evercore ISI GroupUpgradesIn-LineOutperform
Jun 2021Credit SuisseMaintainsUnderperform

View More Analyst Ratings for HPE
View the Latest Analyst Ratings

 

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Posted-In: BriefsNews Upgrades Price Target Analyst Ratings Tech

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