BofA analyst Wamsi Mohan raised the firm’s price target on HP Enterprise to $22 from $19 and keeps a Neutral rating on the shares after fiscal Q2 revenue beats expectations and the company raised FY24 revenue guidance. While AI revenue is ticking up, and liquid cooling technology could be a near term competitive advantage, the firm thinks a rerating of shares will take time given the Juniper overhang and potential restructuring charges that could limit free cash flow accretion.
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