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Fly News Breaks for February 23, 2017
HPQ
Feb 23, 2017 | 07:23 EDT
UBS analyst Steven Milunovich said HP Inc. had a surprisingly good start to the year as Q1 results were better than expected. He noted strength in the printer business, which he said suggests possible upside to flat supplies revenue in the October period. Milunovich believes HP's current discount valuation to peers will narrow as its multiple expands, growth and cash flow improve, and confidence in supplies and success in copying and 3D printing increases. Milunovich reiterated his Buy rating and $18 price target on HP Inc. shares.
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