Evercore ISI is closing the firm’s tactical outperform call on HP Enterprise and removing the stock from the firm’s “Tactical Outperform’ list following April-end quarterly results that came in ahead of expectations. Given inflecting AI demand and shipments, coupled with a line of sight into the core business recovering, management raised its FY24 sales growth guidance to 1-3% in constant currency and EPS view to $1.85-$1.95, notes the analyst, who maintains an In Line rating and $22 price target on the shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HPE:
- HP Enterprise price target raised to $22 from $18 at Stifel
- HP Enterprise price target raised to $19 from $17 at Bernstein
- HP Enterprise price target raised to $22 from $19 at Wells Fargo
- HP Enterprise price target raised to $22 from $19 at BofA
- HP Enterprise price target raised to $17 from $16 at UBS