HP Enterprise price target lowered to $20 from $27 at Barclays

Barclays lowered the firm’s price target on HP Enterprise (HPE) to $20 from $27 and keeps an Overweight rating on the shares. The firm says that while most of the fiscal Q1 report was as expected, the gross margin miss of 200 basis points is concerning. HP Enterprise’s artificial intelligence server metrics “were okay” but a lower gross margin profile will pressure the shares in the near-term, the analyst tells investors in a research note. The firm cut estimates but stays Overweight the shares.