UBS Starts HP Enterprise (HPE) at Buy

UBS initiates coverage on HP Enterprise (NYSE: HPE) with a Buy rating and a price target of $18.50.

Analyst Steven Milunovich commented, "We initiate on Hewlett Packard Enterprise (HPE) with a Buy rating and $18.50 price target. HPE has in its favor a combination of low valuation and positive momentum. We expect results to improve in storage, Enterprise Services, and software with stabilization in Technology Services and more modest growth in servers. Our UBS CIO Survey shows that customers consider HPE improving as well. We have longer-term concerns that HPE is too hardware-centric and not sufficiently differentiated, but we expect solid nearterm results to lift the stock to our target of $18.50 or almost 10x our $1.90 estimate."

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 $14.36 yesterday.

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