NEW YORK (TheStreet) -- Hewlett Packard Enterprise (HPE) - Get Report stock closed lower by 0.20% to $15.20 in Tuesday's trading session after Raymond James reiterated its "market perform" rating on the stock.
On Thursday, Telefonica reportedly ended a network deal in which HP Enterprise would become the vendor for Telefonica's UNICA network.
The decision indicates that HP Enterprise was incapable of providing a multi-vendor, open architecture that would have allowed Telefonica to more easily replace virtual network functions, Raymond James said in a note, Barron's reports.
The project was expected to virtualize 30% of Telefonica's new infrastructure by next year, and could therefore impact HP Enterprise, the firm added, according to Barron's.
"Consistent with Telefonica's intent for UNICA to be truly multi-vendor, it has opened up an RFQ update with a priority on multi-vendor participation," HP Enterprise Senior VP of Communications Howard Clabo said in a statement. "HPE will work closely with other NFV ecosystem vendors that might be brought into the project and will continue to work with Telefonica on our planned UNICA solution deliverable."
Hewlett Packard Enterprise split from Hewlett-Packard in November to form a separate storage and networking business.