HP Enterprise Completes Enterprise Services Spin-Off; Lowering FVE to $16
On April 3, HP Enterprise completed the spin-off of its Enterprise Services business to DXC Technology. In connection with the transaction, we are lowering the fair value estimate to $16 per share from $22 per share and maintain our no moat rating. Although Enterprise Services accounted for approximately 38% of fiscal 2016 revenue, the business segment has acted as a drag on top-line growth and depressing HP Enterprise’s margins. We view this transaction as a positive and think it will position ...Hewlett Packard Enterprise is a technology company. The company's segments are: Hybrid IT, which provides a portfolio of infrastructure and solutions including servers, storage, and HPE Pointnext services; Intelligent Edge, which is comprised of cloud solutions that include wireless local area network, campus and data center switching, software-defined wide-area-networking, security, and associated services to enable secure connectivity; Financial Services, which provides investment solutions for customers that facilitate technology deployment models; and Corporate Investments, which includes Communications and Media Solutions, Hewlett Packard Labs and certain business incubation projects.
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