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Fly News Breaks for February 25, 2020
XRX, HPQ
Feb 25, 2020 | 08:12 EDT
Deutsche Bank analyst Jeriel Ong raised the firm's price target on HP Inc. (HPQ) to $24 from $22 and keeps a Hold rating on the shares. The analyst feels the company's "strategic decisions offer optionality and clarity." Xerox (XRX) "remains in play," more likely as an target versus an acquirer of HP, Ong tells investors in a research note. Further, HP's $8B accelerated share repurchase is substantial and increased free cash flow return targets are likely welcomed and forces capital discipline, says the analyst.
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