Barclays Bumps Up Hewlett Packard Enterprise Price Target by 25%

Barclays Bumps Up Hewlett Packard Enterprise Price Target by 25%
The Hewlett-Packard (HP) logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois, on May 4, 2015. Jim Young/Reuters
Benzinga
Updated:

Barclays analyst Tim Long upgraded Hewlett Packard Enterprise Co. to Overweight from Equal Weight with a price target of $20, up from $16. The price target implies a 23.9 percent upside.

Long believes the company’s core server and storage market is stabilizing and moving to as-a-service.

Meanwhile, Long thinks its networking “should see solid growth.”

Further, HP Enterprise’s valuation is the lowest in the group.

Hewlett Packard Enterprise is a supplier of IT infrastructure products and services.

By Anusuya Lahiri 
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