JPMorgan Upgrades HP, Inc. (HPQ) to Overweight; 'Strong Print and Guide'

February 26, 2021 4:35 AM EST
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Price: $27.95 -1.86%

Rating Summary:
    14 Buy, 20 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 26 | New: 41
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(Updated - February 26, 2021 5:24 AM EST)

JPMorgan analyst Paul Coster upgraded HP, Inc. (NYSE: HPQ) from Neutral to Overweight with a price target of $35.00 (from $28.00).

The analyst comments "HPQ stock is trading at ~8x our CY21E PF EPS estimate and ~6x our CY21E EBITDA, which are discounts to the three-year averages of ~9.2x and 6.8x, respectively. We are incrementally constructive on the stock, on rebounding Printing demand and margins, and continued strength in personal systems; $1B in quarterly share buybacks should provide support near term. We expect HPQ to outperform the mean of our IT Hardware coverage universe over the next 6-12 months."

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 $28.19 yesterday.

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