UPDATE: BMO Capital Downgrades HP Enterprise (HPE) to Market Perform

BMO Capital downgraded HP Enterprise (NYSE: HPE) from Outperform to Market Perform with a price target of $24.00 (from $27.00).

Analyst Tim Long commented, "We are downgrading shares of HPE to Market Perform from Outperform and lowering our price target to $24 from $27. The factors behind HPE’s weak results and guidance could persist for several quarters and as the focus shifts to the RemainCo, we expect the shares to stay range-bound. Outside of the divestitures, there are no meaningful catalysts on the horizon, and while that and low valuation could provide support for the shares, there is also not much upside."

For an analyst ratings summary and ratings history on HP Enterprise click here. For more ratings news on HP Enterprise click here.

Shares of HP Enterprise closed at $24.66 yesterday.

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