HP Enterprise price target lowered to $19 from $20 at JPMorgan

JPMorgan analyst Samik Chatterjee lowered the firm’s price target on HP Enterprise to $19 from $20 and keeps an Overweight rating on the shares. Despite the stock’s underperformance year-to-date, investors are likely heading into the upcoming fiscal Q4 earnings print skeptical relative to the ability of the company to meet its recently outlined fiscal 2023 guidance, the analyst tells investors in a research note. The firm says the slow start to the year implies the need for a strong second half to meet consensus expectations. It is taking a cautious view and trimmed fiscal 2024 estimates modestly to now forecast flat revenue growth.