Raymond James lowered the firm’s price target on HP Enterprise (HPE) to $23 from $29 and keeps a Strong Buy rating on the shares. HP Enterprise’s Q1 report reflected a slight sales beat, EPS miss, and weak Q2 forecast, the analyst tells investors in a research note. The company has initiated a cost-cutting program that will affect 2,500 jobs, or 5% of headcount, intended to deliver $350M in savings by FY27, the firm notes.
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