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Fly News Breaks for June 22, 2016
HPQ
Jun 22, 2016 | 08:55 EDT
After HP said it would record a 13c per share gain from asset sales but did not raise its full-year EPS guidance, Bernstein says that the news significantly undermines the company's credibility. The firm says the news is troubling ,and could indicate that the printing market has weakened considerably. If the printing market has not considerably weakened, HP's stock could be worth $15, the firm stated. Bernstein says that the stock's risk/reward is "attractive" at current levels, but adds that it would feel more bullish about the shares if they fell to $12 or less.
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