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HP stock downgraded by Deutsche Bank, price target lowered amid supply challenges

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Yahoo Finance Live anchors discuss HP stock getting a downgrade by Deutsche Bank.

Video Transcript

BRIAN SOZZI: The downgrade axe is beginning to swing on Wall Street. And today, it's swinging toward computing giant Hewlett Packard Enterprise. Deutsche Bank analyst Sidney Ho cut his rating on HPE to hold and took the price target down to $16 from $18. Says Ho, while demand comments continue to be very constructive, supply challenges are impacting near-term revenue and margins. Ho is also concerned about slowing spending by large corporations as the economy cools down.