HSBC analyst Stephen Bersey downgrades $HP Inc (HPQ.US)$ to a hold rating, and adjusts the target price from $33 to $38.
According to TipRanks data, the analyst has a success rate of 73.5% and a total average return of 17.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $HP Inc (HPQ.US)$'s main analysts recently are as follows:
The stock declined by 7% following earnings, as its guidance failed to meet expectations, reflecting a slower PC recovery than anticipated, alongside rising commodity costs that affected PC margins in the short term. The anticipation is for a revival in PC recovery with improved margins in upcoming quarters, facilitated by the implementation of cost and pricing actions.
HP Inc.'s fiscal Q4 performance aligned with expectations, though its future earnings outlook appears slightly subdued as the anticipated recovery in both Print and PC sectors has been delayed. It is noted that HP's PC margins are currently facing pressures due to commodities and product mix in the near term.
Note:
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