Why Hewlett-Packard Enterprise Shares Opened Lower Today
Shares of Hewlett-Packard Enterprise (NYSE: HPE) opened much lower today at $14.13, compared to yesterday's close of $18.06. That might appear to be quite a drop, but the price change is only due to the company completing its spinoff and merger of its software business with Micro Focus.
The $8.8 billion deal was originally announced in September 2016, as part of CEO Meg Whitman's ongoing efforts to make HPE a slimmer and more agile company. HPE received a $2.5 billion cash payment and will retain 50.1% ownership (approximately 222 million American depositary shares) of the new combined company.
Image source: HPE.
Source: Fool.com
Hewlett Packard Enterprise Co Stock
€50.76
-2.080%
The stock is an absolute favorite of our community with 29 Buy predictions and no Sell predictions.
As a result the target price of 60 € shows a slightly positive potential of 18.2% compared to the current price of 50.76 € for Hewlett Packard Enterprise Co.
