Time to Buy Hewlett Packard Enterprise Co (HEWL) After The Completion of This Bullish Multiple Top?

September 17, 2017 - By Maria Brooks

The stock of Hewlett Packard Enterprise Co (HEWL) shows a multiple tops pattern with $14.74 target or 9.00 % above today’s $13.52 share price. The 7 months chart pattern indicates low risk for the $21.90 billion company. It was reported on Sep, 17 by Finviz.com. If the $14.74 price target is reached, the company will be worth $1.97B more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.37% or $0.05 on September 15, reaching $13.52. About 15.61M shares traded or 23.30% up from the average. Hewlett Packard Enterprise Co (NYSE:HPE) has risen 56.74% since September 17, 2016 and is uptrending. It has outperformed by 40.04% the S&P500.

Hewlett Packard Enterprise Co (NYSE:HPE) Ratings Coverage

Among 29 analysts covering Hewlett Packard Enterprise (NYSE:HPE), 9 have Buy rating, 3 Sell and 17 Hold. Therefore 31% are positive. Hewlett Packard Enterprise had 41 analyst reports since November 3, 2015 according to SRatingsIntel. On Wednesday, November 18 the stock rating was initiated by Raymond James with “Mkt Perform”. The stock has “Sector Perform” rating by RBC Capital Markets on Monday, November 23. As per Wednesday, August 23, the company rating was initiated by Loop Capital. The stock has “Neutral” rating by Robert W. Baird on Friday, November 20. Morgan Stanley initiated the stock with “Equal-Weight” rating in Wednesday, November 11 report. As per Tuesday, November 3, the company rating was initiated by Bernstein. JP Morgan initiated Hewlett Packard Enterprise Co (NYSE:HPE) on Wednesday, November 4 with “Neutral” rating. The rating was initiated by Brean Capital with “Hold” on Friday, November 6. Needham downgraded Hewlett Packard Enterprise Co (NYSE:HPE) on Friday, February 24 to “Hold” rating. The firm has “Underperform” rating given on Friday, October 14 by CLSA.

More notable recent Hewlett Packard Enterprise Co (NYSE:HPE) news were published by: Globenewswire.com which released: “Hewlett Packard Enterprise Company Announces Pricing of Senior Notes” on September 12, 2017, also Bizjournals.com with their article: “3 big challenges for HPE’s Whitman going forward” published on September 06, 2017, Reuters.com published: “Hewlett Packard Enterprise to complete software spin-off” on September 01, 2017. More interesting news about Hewlett Packard Enterprise Co (NYSE:HPE) were released by: Seekingalpha.com and their article: “Hewlett Packard Enterprise: Cheap Stock But Tough Road Ahead” published on September 08, 2017 as well as Reuters.com‘s news article titled: “HP Enterprise posts surprise revenue rise on networking demand” with publication date: September 05, 2017.

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