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Fly News Breaks for August 23, 2019
HPQ
Aug 23, 2019 | 06:33 EDT
Citi analyst Jim Suva said HP Inc. reported "good" Q3 results, but the conference call and details about the quarter presented "lot of surprises" that add uncertainty for investors. Following the report, he trimmed his FY20 EPS estimate, citing macro conditions and increased difficulties in the print industry. While he thinks HP will grow EPS in 2020, Suva said it won't be due to organic sales growth but mostly from buybacks and cost cutting. He lowered his price target on HP shares to $20 from $21 and keeps a Neutral rating on the stock.
News For HPQ From the Last 2 Days
HPQ
Sep 16, 2019 | 11:37 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. HSBC UPGRADES UBER,... To see the rest of the story go to thefly.com. See Story Here
HPQ
Sep 16, 2019 | 10:12 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Halliburton (HAL) downgraded to Equal Weight from Overweight at Barclays with analyst J. David Anderson saying he sees "only modest upside" to the shares after revising his estimates lower. 2. Aurora Cannabis (ACB) downgraded to Sell from Hold at Stifel with analyst W. Andrew Carter saying he sees "meaningful downside" from current share levels following the company's "disappointing" Q4 earnings release. 3. HP Inc. (HPQ) downgraded to Neutral from Buy at UBS with analyst John Roy saying he 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. 4. Dick's Sporting (DKS) downgraded to Market Perform from Outperform at Wells Fargo with analyst Tom Nikic saying now that Dick's has returned to positive comps and the stock has re-rated, the risk/reward is more evenly balanced. 5. JPMorgan (JPM) downgraded to Neutral from Buy at Buckingham with analyst James Mitchell citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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.