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Fly News Breaks for August 23, 2019
HPQ
Aug 23, 2019 | 08:46 EDT
Loop Capital analyst Ananda Baruah lowered his price target on HP to $21, saying that while the company's Q3 earnings and guidance were "solid", he expects investors to focus on the company's "softening" Printing fundamentals over the 2 of the past 3 quarters. The analyst further cites the management's view that softening macro climate in Europe is exacerbating the prior headwinds of channel supply management. Baruah still keeps his Buy rating on HP Inc, stating that in spite of the softer printing business, the demand in the PC market has been stronger than expected and its projected growth remains "very attractive".
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.