Piper Sandler Starts HP Enterprise (HPE) at Neutral

Piper Sandler analyst James Fish initiates coverage on HP Enterprise (NYSE: HPE) with a Neutral rating, PT $24.00.

The analyst comments "We are initiating coverage with a Neutral rating and $24 PT based on 6x EV/CY27E EBITDA. In looking ahead, we appreciate HPE's opportunities around refresh coming up in 2026, the AI-systems growth, aspects of the Juniper deal and Greenlake transition, and the recent analyst day that reset expectations. However, past execution (which has led to share losses across core markets), consistently changing reporting structure, and lack of margin uplift have weighed on investor sentiment, including the recent analyst day targets of +$3 EPS by FY28. While the pullback post analyst day looks interesting, including the possibility of it trading today at ~12% FY28E FCF yield, we prefer other names."

For an analyst ratings summary and ratings history on HP Enterprise click here. For more ratings news on HP Enterprise click here.

Shares of HP Enterprise closed at $22.87 yesterday.

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