Hewlett-Packard Enterprise Company (NYSE:HPE) is a Must-Watch AI stock on Wall Street. On July 11, BofA Securities analyst Wamsi Mohan raised the price target on the stock to $24.00 (from $23.00) while maintaining a “Buy” rating.
The reason behind the price target adjustment is that the firm now expects increased cost synergy from the Juniper acquisition. HPE now anticipates at least $600 million in cost synergies over the next three years. This is up from its previous estimate of $450 million.
“Hewlett-Packard Enterprise (HPE) now expects at least $600M (up from $450M) in cost synergies over the next 3 years, with 1/3 of savings realized by end of year 1 and the rest spready evenly across the ensuing years. This benefit will be accretive to non-GAAP EPS in the first full year and accretive to FCF in year 2 and 3. Full, detailed guidance will be provided later during the company’s Analyst Day in October.”
Hewlett Packard Enterprise Company (NYSE:HPE), an American multinational technology company, provides high-performance computing systems, AI software, and data storage solutions for running complex AI workloads.
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