Hewlett Packard Enterprise slips in wake of Morgan Stanley rating cut

Apr. 12, 2022 12:39 PM ETHewlett Packard Enterprise Company (HPE)By: Rex Crum, SA News Editor1 Comment

Hewlett Packard Enterprise (HPE) corporate headquarters located in Silicon Valley

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  • Hewlett Packard Enterprise (NYSE:HPE) shares dipped into the red, Tuesday, as Morgan Stanley analyst Meta Marshall cut the brokerage's rating on the computer technology giant to underweight from equal weight.
  • Marshall took down HPE (HPE) to the equivalent of sell citing factors such as weak data coming from chief information officers and the company counting on about 60% of its revenue coming from servers and storage. Marshall said the situation is such that she expects HPE's (HPE) "stock to underperform over the next 12 months."
  • Marshall also lowered her price target on HPE's (HPE) shares to $15 from $17.
  • HPE (HPE) shares have flatlined since the start of the year. During its most-recent quarter, the company reported better-than-expected results.

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