Wells Fargo lowered the firm’s price target on HP Enterprise (HPE) to $17 from $22 and keeps an Equal Weight rating on the shares. The firm thinks HP Enterprise’s FY25 guide miss plus Server EBIT percentage reset given execution issues and competition justifies a significant pull-back. Wells views margin recovery as a prove-it story and sees Juniper (JNPR) deal uncertainty as an overhang.
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