UPDATE: Loop Capital Downgrades HP, Inc. (HPQ) to Hold

September 1, 2022 6:25 AM EDT
Get Alerts HPQ Hot Sheet
Price: $30.15 +0.80%

Rating Summary:
    9 Buy, 23 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 5 | New: 0
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(Updated - September 1, 2022 6:34 AM EDT)

Loop Capital analyst Ananda Baruah downgraded HP, Inc. (NYSE: HPQ) from Buy to Hold with a price target of $29.00 (from $50.00).

The analyst comments "Moving to Hold at $29 PT from what has been one of our favorite Buy ratings the last 24 months. We continue to believe HPQ is foundationally well positioned for the next 5 years, is improving that positioning with the acquisition of POLY, and that the company remains underappreciated structurally. That being said, we also believe the unique confluence of three events the company spoke to in its 8/30 earnings call is creating a 2 – 3 Q recalibration event period which investors will require before looking to again build new core positions."

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 $28.71 yesterday.

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