HP, Inc. (HPQ): Not As Good As Advertised - Jefferies
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Jefferies analyst, James Kisner, reiterated his Buy rating on shares of HP, Inc. (NYSE: HPQ) after Q3 results were strong driven largely by strong PC sales, but Q4 guidance was disappointing as HPQ aims to opportunistically drive sales of negative margin printing hardware units to drive future ink sales. The analyst believes HPQ shares will appreciate as the company delivers FCF targets and investors gain confidence in an improvement of the trajectory of PCs and Supplies.
The price target increases to $16.75 from $16.00.
Shares of HP, Inc. closed at $14.40 yesterday.
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