Hewlett Packard Enterprise (HPE) Stock Jumps as Morgan Stanley Sees 30% Upside
TLDR
- HPE jumped 5% in pre-market Monday after Morgan Stanley upgraded the stock from “Equalweight” to “Overweight”
- Morgan Stanley’s $69 price target implies nearly 30% upside from Friday’s close of $53.22
- Analyst Erik Woodring called HPE the “preferred OEM to play the enterprise infrastructure cycle”
- HPE beat Q2 EPS estimates by $0.25, posting $0.79 vs $0.54 expected, with revenue up 40% year over year to $10.68 billion
- The average analyst price target sits at $69.93, with a “Moderate Buy” consensus across Wall Street
HPE stock opened the week with a bang, jumping 5% in Monday’s pre-market session after Morgan Stanley upgraded the stock.
Hewlett Packard Enterprise Company, HPE
The firm moved HPE from “Equalweight” to “Overweight,” setting a price target of $69. With Friday’s close at $53.22, that target represents roughly 30% upside from current levels.
Analyst Erik Woodring led the call, citing HPE as the firm’s top pick to ride the enterprise infrastructure cycle.
Woodring pointed to three main reasons for the upgrade: the improving outlook following the Juniper Networks acquisition, underappreciated financial momentum, and what he called a “valuation asymmetry” after the stock retraced its post-earnings gains.
… Continue reading the full article at the original source below.
