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Fly News Breaks for August 12, 2016
SGI, HPE
Aug 12, 2016 | 08:48 EDT
After HP Enterprise (HPE) agreed to buy Silicon Graphics (SGI), Wells Fargo says that the deal "checks a number of key boxes" for HP Enterprise. Specifically, Wells says that the deal "bolsters and expands" the company core business, "provides key assets in a growing market," and is inexpensive. Moreover, the firm thinks that HP Enterprise can leverage its large customer base to improve Silicon Grpahics' results. Wells keeps an Outperform rating on HP Enterprise.
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