Morgan Stanley cuts Hewlett Packard rating amid tariff impact fears

Brokerage Morgan Stanley downgrades server maker Hewlett Packard Enterprise HPE.N to "equal weight" from "overweight", lowers PT to $14 from $24

New PT represents a 5% upside to the stock's last close

Brokerage estimates that HPE's earnings will be negatively impacted by the new tariffs, with a potential reduction of 30% in cost of goods sold

Brokerage concerned about the delay in HPE's acquisition of Juniper Networks JNPR.N due to DOJ antitrust concerns, but still sees it as a positive catalyst

According to a survey, Chief Information Officers (CIOs) suggested that hardware demand is weakening, with IT hardware seeing the biggest deterioration in demand - Brokerage

Eight out of 15 brokerages rate the stock "buy" or higher, seven rate "hold", with a median PT of $20, according to data compiled by LSEG

Including session's moves, HPE stock down 37.8% YTD