Hewlett Packard Enterprise (HPE) Stock Down, Jefferies Raises Price Target

Hewlett Packard Enterprise (HPE) price target was raised this morning at Jefferies after an impressive showing at investor meetings.
By Natalie Walters ,

NEW YORK (TheStreet) -- Shares of Hewlett Packard Enterprise  (HPE) - Get Reportare down 0.70% to $18.36 in early morning trading as the company's price target was raised earlier today to $25.50 from $24. at Jefferies

Additionally, the firm reiterated its "buy" rating for the Palo Alto, CA-based IT company.

The price target increase comes after recent investor meetings increased the firm's confidence in Hewlett Packard. "We walked away with greater comfort around M&A risk, hopes of a dividend increase, and higher confidence in the outlook of the business ex-ES," according to an analyst note. 

The price target change also follows a San Jose jury's decision last Friday that Oracle (ORCL) owes Hewlett Packard $3 billion for breaching an agreement to have its databases support HP systems based on Intel's marginalized Itanium server CPU line. Oracle plans to appeal the damages award. 

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