HP (HPQ) PT Raised to $16 at RBC Into Analyst Day
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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."
Shares of HP, Inc. closed at $15.58 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: BMO Capital Upgrades Williams Partners LP (WPZ) to Outperform
- UPDATE: BMO Capital Upgrades CSX (CSX) to Outperform
- Jefferies Upgrades Williams Companies (WMB) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesRBC Capital, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!