Hewlett Packard Enterprise (HPE) Stock Rising, Upgraded at Citigroup
Bloomberg News
NEW YORK (TheStreet) -- Shares of Hewlett Packard Enterprise (HPE) - Get Reportare advancing 1.35% to $20.32 on Monday afternoon as Citigroup upgraded its stock rating to "buy" from "neutral" this morning.
The firm raised its price target on the Palo Alto, CA-based information technology company to $25 from $20. Citigroup noted that investors are undervaluing Hewlett Packard Enterprise's ability to produce free cash flow, positioning it to raise dividends, MarketWatch reports.
It could double its dividend payouts approximately 46 cents per share from 22 cents per share, the firm continued.
Last year, Hewlett Packard split itself into two companies, Hewlett Packard Enterprise and HP Inc. (HPQ).
Shares of HP Inc are up 0.14% to $14.13 in afternoon trading today.
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