Report
Timothy Feeney
EUR 147.86 For Business Accounts Only

Relaunching Coverage of HP Enterprise With No Economic Moat, Negative Trend, and FVE of $23

We are relaunching coverage on Hewlett Packard Enterprise with a fair value estimate of $23 per share, along with no-moat and negative moat trend ratings. HP Enterprise is a leading provider of servers, networking equipment, and enterprise storage solutions.  However, we believe that the future of these businesses is bleak as more and more workloads migrate to the public cloud. Further, we do not think that switching costs around the company’s networking equipment and enterprise storage will lea...
Underlying
Hewlett Packard Enterprise Co.

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Timothy Feeney

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