Hewlett Packard Enterprise is trading 10.9% down in pre-market at $55.32 after Evercore ISI downgraded the shares from Outperform to In Line while maintaining a $65 price target.
- Evercore ISI cited valuation after the stock’s sharp appreciation and fewer near-term catalysts.
- Further profitability upside depends on improved networking supply.
- Broader technology selling and rising rate expectations are adding pressure.