HP, Inc. (HPQ) PT Raised to $35 at BofA Securities

BofA Securities analyst Wamsi Mohan raised the price target on HP, Inc. (NYSE: HPQ) to $35.00 (from $32.00) while maintaining a Buy rating.

The analyst comments "HPQ will report F2Q results after market close on May 29th. We expect F2Q EPS to be in line with mid-point of company guidance ($0.76-$0.86) and Street estimates of $0.81. We model F2Q rev of $12.5bn, below Street est of $12.6bn. Our rev/EPS est for F3Q are $13.2bn/$0.82 vs the Street est of $13.5bn/$0.85. Berkshire Hathaway exited its position in HPQ that removes an overhang on the stock. We reiterate our Buy rating on an improving PC outlook, higher NPV print projects, cost controls, and improving FCF."

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