HP (HPQ) PT Raised to $16 at RBC Into Analyst Day

October 10, 2016 6:36 AM EDT
Get Alerts HPQ Hot Sheet
Price: $14.73 --0%

Rating Summary:
    14 Buy, 22 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 13 | New: 9
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RBC Capital analyst Amit Daryanani bumped his price target on HP, Inc. (NYSE: HPQ) to $16.00 (from $14.00) but maintained a Sector Perform rating into the upcoming October 13th Analyst Day event.

Daryanani commented, "Heading into HPQ's analyst day, we think the key focus areas will be – 1) Printing: expect updated details for printing strategy & timeline for Supplies recovery following channel actions and announced acquisition of Samsung's printing business, 2) FCF Generation: Given HPQ is likely positioned to achieve ~$2.3B of FCF in FY16, focus will be on their FY17 target (we think $2.4-2.8B is reasonable with lower restructuring partially offset by cash-cycle days), 3) PCs: We expect outlook for PCs to improve given improved PC data points vs. HPQ's below seasonal guide, 4) Growth Vectors: details on 3D printing product suite, market opportunity, and A3 copier aspirations, and 5) Restructuring: progress on current restructuring initiatives and impact from Samsung printing acquisition. Maintain SP rating and raising target to $16 to reflect improved sentiment."

For an analyst ratings summary and ratings history on HP, Inc. click here. For more ratings news on HP, Inc. click here.

Shares of HP, Inc. closed at $15.58 yesterday.

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