HP Enterprise price target raised to $16 from $15 at Morgan Stanley

Morgan Stanley analyst Meta Marshall raised the firm’s price target on HP Enterprise to $16 from $15 and keeps an Underweight rating on the shares. Q4 results were largely as expected, with Compute weakness made up for by unexpected HPC acceptances, the analyst tells investors. While HPC results are showing traction, visibility on Intelligent Edge remains too low to get involved as Intelligent Edge backlog workdown “creates a difficult set-up for FY24,” the analyst added.