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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