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Fly News Breaks for March 4, 2020
Mar 4, 2020 | 08:23 EDT
Morgan Stanley analyst Katy Huberty lowered the firm's price target on HP Enterprise to $16 from $18 following the company's Q1 and FY20 revenue shortfall "disappointment," telling investors that "revenue growth matters most for the stock." While the company's EPS guidance is unchanged due to more cost cuts, its free cash flow will be pressured by working capital, noted Huberty, who keeps an Equal Weight rating on HP Enterprise shares.
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