HPE's Fiscal 2018 Results in 7% Growth but We Expect Long-Term Headwinds; Maintaining $15 FVE
No-moat Hewlett Packard Enterprise's fiscal 2018 resulted in revenue growth of 7% year over year as the pivot in the company’s focus from volume to value-add sales is paying off. Driven by robust growth across its intelligent edge, compute, and storage product families, HPE exceeded top line consensus expectations. Although we like HPE's strategic shift, combined with a strong IT infrastructure spending environment, we are maintaining our fair value estimate of $15 per share due to concerns that...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.
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.
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