HP Enterprise price target raised to $21 from $19 at Bernstein

Bernstein raised the firm’s price target on HP Enterprise (HPE) to $21 from $19 and keeps a Market Perform rating on the shares. HP Enterprise’s Q4 results were modestly better than consensus, and the company expects to close its acquisition of Juniper (JNPR) early next year, the analyst tells investors in a research note. The firm “applauds” HP Enterprise for strong operating expense controls, but notes that its R&D declined 10% for the full year and10% sequentially, which seems “incompatible with the company’s focus on innovation.”