HP Enterprise initiated with a Hold at Deutsche Bank

Deutsche Bank analyst Matt Niknam initiated coverage of HP Enterprise with a Hold rating and $22 price target The firm sees “multiple routes for potential upside” in the shares, especially in the context of a discounted valuation relative to HP Enterprise’s hardware and networking peers. However, the Hold rating reflects concerns around heightened execution risk, as the company embarks on a bigger strategic push into networking via the pending Juniper acquisition, the analyst tells investors in a research note.