Mizuho Securities Reiterates Neutral on HP, Inc. (HPQ) Following 3Q Report

August 25, 2016 7:18 AM EDT
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Price: $14.73 -0.87%

Rating Summary:
    14 Buy, 22 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Mizuho Securities reiterated a Neutral rating and $12.00 price target on HP, Inc. (NYSE: HPQ) following the company's 3Q earnings report. HPQ reported revenues of $11.9bn, ahead of estimates of $11.5bn. EPS of $0.48 was above consensus' $0.44 and in-line with the upper-end of outlook.

Analyst Abhey Lamba commented, "HPQ reported better than expected results. PSG posted upside on share gains and better profitability. EPS benefited from divestiture-related one-time gains. Printing supplies remained challenged with management adjusting channel inventory as announced earlier this year. For FY16, the company updated its EPS range towards the lower-end due to investments in the printing business. Despite cheap valuation, we reiterate our Neutral rating and $12 PT on limited upside to estimates and await an update on accelerated capital returns."

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 $14.40 yesterday.

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