(News Bulletin 247) – Jefferies maintains its Buy recommendation on the HP Enterprise (HP) stock and its price target at $20.
The meeting with Tarek Robbiati, chief financial officer of HP Enterprise reinforced the views of the Broker.
“We don’t think investors are giving them enough credit to keep them going,” said the analyst.
The valuation reflects, he said, ‘the expectation of a significant deterioration in business trends, while conversely, their forecasts for revenue growth look increasingly achievable in FY23’.
And to quote the order book ‘at twice the normal level’ to illustrate his point.
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