- Evercore ISI analyst Amit Daryanani upgraded Hewlett Packard Enterprise Co HPE to Outperform from In-Line with a price target of $20, up from $16, implying a 41.8% upside.
- Daryanani believes that the stock can outperform substantially at the current valuation and the low multiple provides a healthy level of downside protection.
- He estimates HP Enterprise, via a combination of organic tailwinds and self-help levers, should see a path toward mid-teens EPS/free cash flow growth over the next few years, which should enable the stock to work toward a $20-plus price.
- Daryanani considers the H3C stake and Oracle Corp ORCL lawsuit win as sizable value creators that could extend optionality for HP Enterprise.
- Price action: HPE shares traded higher by 1.13% at $14.26 in the premarket session on the last check Monday.
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