Morgan Stanley is optimistic on HPE's upcoming acquisition of Juniper Networks.
Hewlett Packard Enterprise poses an "attractive near-term value proposition" with its upcoming acquisition, according to Morgan Stanley . Ahead of HP's earnings report Thursday after the bell, analyst Meta Marshall upgraded shares to overweight from equal weight. Marshall also raised her price target to $28 from $23, indicating 28.6% upside potential from Wednesday's close.
The transaction, which is expected to close before year-end or in early 2025, could help power HP's share multiple above that of its hardware and networking peers, according to Marshall. "Combined with Juniper coming out of an inventory digestion and having new cloud customers, we are biased to think that there is more upside to Juniper's numbers in the near term vs. downside upon the combination ," Marshall said.
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