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Fly News Breaks for June 6, 2019
Jun 6, 2019 | 07:37 EDT
Evercore ISI analyst Amit Daryanani started HP Inc. with an Outperform rating and $23 price target, saying he sees the current valuation more than discounting ongoing headwinds. In a research note to investors, Daryanani says he sees an upside bias on the stock from a quicker supplies recovery and more resilient free cash flow generation. The analyst thinks HP has an "impressive" management team that has executed well in the last several years and thinks it is prudent to be positively biased given the 10%+ free cash flow yield and the potential for supplies revenues to stabilized in the second half of 2019.