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Fly News Breaks for September 16, 2019
HPQ
Sep 16, 2019 | 06:11 EDT
UBS analyst John Roy downgraded HP Inc to Neutral and lowered his price target to $20 from $26. The analyst points to downside risk for the company's flat expectations in its printing supplies business amid low visibility and uncertain macro backdrop. Roy further believes that HP's PC margin would decline by more than consensus as the company passes through the component price declines and the sales mix shift away from commercial. The analyst also cites additional uncertainty from HP's CEO transition.
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