Why Hewlett Packard Enterprise Stock Plummeted by Almost 11% Today
The tech hardware company, which targets corporate clients, was hit with an analyst downgrade.
Overview
Investing in Hewlett Packard Enterprise (NYSE: HPE) wouldn't have been an immediately profitable enterprise on Monday. After all, the tech hardware company's shares slumped by nearly 11% across that trading session, on the back of an analyst recommendation downgrade.
The downgrade occurred on Sunday and was enacted by Evercore ISI's Amit Daryanani. He now considers HP Enterprise to be only an in-line (read: hold), down a peg from his previous recommendation of outperform (buy). Despite the change, Daryanani maintained his $65-per-share price target on the stock.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.