Morgan Stanley analyst Meta Marshall raised the firm’s price target on HP Enterprise to $13 from $12 and keeps an Underweight rating on the shares. The company beat estimates in Q4 on server upside, but earnings follow through was limited and her FY23 estimates remain "largely unchanged," said Marshall, who sees the macro environment "starting to have an impact" and remains cautious that demand trends will begin to soften towards the second half of the fiscal year as backlog clears.
Published first on TheFly
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Read More on HPE:
- Deal Brewing Between HPE and NTNX; To Fortify Cloud Offerings
- HP Enterprise price target raised to $13 from $11.50 at Citi
- HP Enterprise price target raised to $18 from $17 at Barclays
- HP Enterprise backs FY23 EPS view $1.96-$2.04, consensus $2.03
- HP Enterprise sees Q1 adjusted EPS 50c-58c, consensus 49c
