Mizuho Securities Reiterates Neutral on HP, Inc. (HPQ) Following 3Q Report
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
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."
Shares of HP, Inc. closed at $14.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
- Philip Morris Intl (PM) PT Raised to $101 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
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!