JPMorgan Just Hiked Hewlett Packard Enterprise Price Target to $37: Memory Reversal Powers IT Hardware Rally Quick Read – JPMorgan raised Hewlett Packard Enterprise’s (HPE) price target to $37 from $27, citing easing memory cost pressures and strong earnings momentum ahead. -…
mory supply rebalancing and fading margin headwinds position Hewlett Packard Enterprise for potential earnings estimate increases as DRAM and NAND pricing pressures ease. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and Hewlett Packard Enterprise wasn’t one of them. Get them here FREE
JPMorgan just raised its price target on Hewlett Packard Enterprise (NYSE:HPE) to $37 from $27, maintaining an Overweight rating. The firm tied the call to a reversal of memory-related concerns that has powered the recent rally in the IT hardware group. For prudent investors, the price target raise signals that Wall Street sees more room to run as margin headwinds fade ahead of earnings season.
JPMorgan also paired the action with a similar move on Dell Technologies (NYSE:DELL), lifting that target to $280 from $205, framing the entire IT hardware group as a synchronized opportunity. The Analyst’s Case JPMorgan is most positive on Dell Technologies and Hewlett Packard Enterprise heading into upcoming earnings prints, expecting earnings estimate increases to reinforce medium-term earnings growth outlooks. The firm sees shares returning to valuation multiples “more appropriate for the medium-term earnings growth outlook.” The analyst who called NVIDIA in 2010 just named his top 10 stocks and Hewlett Packard Enterprise wasn’t one of them.