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Fly News Breaks for November 22, 2017
CSCO, HPE
Nov 22, 2017 | 08:02 EDT
UBS analyst Steven Milunovich noted HP Enterprise (HPE) reported a slight beat for Q4 despite fundamentals remaining mixed. The analyst believes CEO Meg Whitman's departure is a marketing negative and that Dell and Cisco (CSCO) are better positioned to serve on-premises computing needs. He also noted 2018 earnings will be back-end loaded and the stock appears fairly valued while lacking a catalyst. Milunovich maintained his Neutral rating and $15 price target on HP Enterprise shares.
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