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XRX

Xerox

$37.60

0.14 (0.37%)

, HPQ

HP Inc.

$19.54

-0.005 (-0.03%)

06:00
11/14/19
11/14
06:00
11/14/19
06:00

Carl Icahn pushes for Xerox, HP Inc union, WSJ reports

Carl Icahn, who owns a 10.6% stake in Xerox (XRX), is making the case for a proposed merger between the company and HP Inc (HPQ), saying he thinks a deal could yield big profits for shareholders, The Wall Street Journal's Cara Lombardo reports. Icahn also told The Journal that he owns a 4.24% stake in HP, valued at roughly $1.2B, which has not been previously reported and could ramp up pressure on the company to make a deal. Xerox last week made an offer to buy HP for $33B, or $22 a share. Icahn says he believes the deal is in the best interests of both sets of shareholders given the potential for cost savings and for the combined company to market a more balanced portfolio of printer offerings. "I think a combination is a no-brainer," Icahn says. Reference Link

XRX

Xerox

$37.60

0.14 (0.37%)

HPQ

HP Inc.

$19.54

-0.005 (-0.03%)

  • 26

    Nov

  • 09

    Dec

XRX Xerox
$37.60

0.14 (0.37%)

11/06/19
JPMS
11/06/19
NO CHANGE
JPMS
Neutral
Xerox, HP combination 'looks feasible and has merits,' says JPMorgan
The potential combination of Xerox (XRX) and HP Inc. (HPQ) "looks feasible and has merits," JPMorgan analyst Paul Coster tells investors in a research note. Assuming a 25% premium to HP's prior close, the transaction value could be as high as $34B, and HP's market cap is more than three times that of Xerox, says the analyst. However, he believes Xerox, assuming four-times leverage, could raise as much as $28B from debt, which, when combined with its net cash position following the sale of the Fuji-Xerox joint venture, would get the company close to the $34B without using equity. The combined company could sell the "lower-margin" HP Personal Systems business to reduce debt, and synergies in years two and three "could easily exceed" another $1.0B, contends Coster. The analyst has a Neutral rating on HP and Underweight rating on Xerox.
11/07/19
DBAB
11/07/19
NO CHANGE
DBAB
Hold
Xerox acquisition of HP 'improbable,' says Deutsche Bank
Deutsche Bank analyst Jeriel Ong sees a deal where Xerox (XRX) acquires HP Inc. (HOQ) as "improbable (but not financially impossible)" for the sole reason that Xerox is less than one-third the size of HP at the suggested $22-$23 per share offer. The analyst surmises that both companies are likely early in their discussions surrounding a potential deal. Ong has a Hold rating on HP shares. The analyst adds, however, that the deal appears to be "pretty accretive" to Xerox shareholders.
11/12/19
JPMS
11/12/19
UPGRADE
Target $38
JPMS
Neutral
Xerox upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Paul Coster upgraded Xerox to Neutral from Underweight with a $38 price target.
11/12/19
JPMS
11/12/19
UPGRADE
Target $38
JPMS
Neutral
JPMorgan upgrades Xerox to Neutral with shares close to fair value
JPMorgan analyst Paul Coster upgraded Xerox (XRX) to Neutral from Underweight with a price target of $38, up from $31. The analyst thinks the stock is trading close to fair value, but sees "catalysts to the upside and downside in the very near term." Xerox's bid for HP Inc. (HPQ) could conceivably lead HP to make a counter-bid for Xerox at a premium to where Xerox stock is currently trading, Coster tells investors in a research note. On the other hand, Xerox could successfully acquire HP and its stock could price in cost synergies, ahead of the deal closing, adds the analyst. However, looking further out, he believes Xerox's future "remains uncertain."
HPQ HP Inc.
$19.54

-0.005 (-0.03%)

11/11/19
EVER
11/11/19
UPGRADE
Target $24
EVER
Outperform
HP Inc. upgraded to Outperform from In Line at Evercore ISI
Evercore ISI analyst Amit Daryanani upgraded HP Inc. to Outperform from In Line with a $24 price target.

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ASAZY

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LPL

LG Display

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ETNB

89bio

$28.38

0.86 (3.13%)

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ANIOY

Acerinox

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20:15
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BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

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TLSNY

Telia

$0.00

(0.00%)

20:14
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ARWR

Arrowhead

$67.25

1.705 (2.60%)

20:13
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ARGX

Argenx

$147.31

-2.56 (-1.71%)

20:08
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  • 16

    Dec

STC

Stewart

$43.16

0.28 (0.65%)

19:56
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FAF

First American

$63.05

(0.00%)

19:55
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  • 13

    Feb

PFSI

PennyMac Financial

$33.91

0.12 (0.36%)

19:54
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AGIO

Agios Pharmaceuticals

$40.93

0.81 (2.02%)

18:40
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Agios Pharmaceuticals analyst commentary at Piper Jaffray »

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  • 09

    Dec

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BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

18:34
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  • 08

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FATE

Fate Therapeutics

$13.64

0.07 (0.52%)

18:29
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RCKT

Rocket Pharmaceuticals

$22.37

2.61 (13.21%)

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  • 08

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ARGX

Argenx

$147.31

-2.56 (-1.71%)

, JNJ

Johnson & Johnson

$140.36

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ARGX

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$147.31

-2.56 (-1.71%)

JNJ

Johnson & Johnson

$140.36

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  • 08

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BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

, JNJ

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17:58
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BLUE

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JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

AMGN

Amgen

$233.74

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BMY

Bristol-Myers

$59.94

0.435 (0.73%)

REGN

Regeneron

$372.26

4.02 (1.09%)

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  • 08

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BGNE

BeiGene

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  • 09

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LLY

Eli Lilly

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  • 08

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BMY

Bristol-Myers

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  • 08

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QURE

uniQure

$66.06

1.5 (2.32%)

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