Barclays expects the shares of HP Inc
However, the brokerage still believes
Quarter In Review
Following are the key numbers in HP’s quarterly print:
- HP Inc reports Q4 adjusted EPS $0.36 in line with estimates; revenue $12.5 billion versus $11.88 billion estimate.
- HP Inc sees Q1 adjusted EPS $0.35–$0.38 versus $0.38 estimate.
- HP wees FY 2017 adjusted EPS of $1.55–$1.65 versus the $1.61 estimate.
- Personal system revenue up 4 percent.
- Printing revenue fell 8 percent.
- Supplies revenue declined 12 percent.
“While HP expects the channel glut to ease by the end of F2017, we think it will test investors' patience as other self help stories may have more immediate inflection points,” analyst Mark Moskowitz wrote in a note.
Moskowitz has an Equal Weight rating on the stock, with a price target of $15.
“While the near term could be bumpy, the headwinds related to printing supplies are explainable and have an end point for resolution, albeit deferred to the mid- to long-term. We recommend holding the stock but not as an outsized or overweight position,” Moskowitz added.
At the time of writing,
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|Oct 2016||Deutsche Bank||Maintains||Buy|
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