Citi Downgrades HP, Inc. (HPQ) to Neutral

Citi analyst Jim Suva downgraded HP, Inc. (NYSE: HPQ) from Buy to Neutral with a price target of $21.00 (from $25.00).

The analyst comments "We acknowledge HPQ’s strong FCF conversion and strong shareholder returns (8-9%/year) coupled with shift to more contractual services and 3D Print opportunities are all positives but we believe upside to estimates and multiples remain more limited and hence we move to the sidelines."

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 $19.00 yesterday.

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