RBC Capital Issues a Hold Rating on HP, Inc. (HPQ)
RBC Capital analyst Amit Daryanani reiterated a sector perform rating on HP Inc (NYSE:HPQ) ahead of the company’s 3Q earnings with a price target of $14.00.
According to the analyst, an increase in PC demands and improved y/y trends in unit shipments resulted in share gains for HPQ. He believes that, “the sale of marketing optimization assets should produce a gain of $245M in Jul-qtr and $40M in Oct-qtr (communicated on the intra-quarter call)”. The analyst further believes that HPQ’s intra-quarter Business Update Call sufficiently sets revenue impact expectations.
Daryanani affirms that focus items for the quarter include optimizing assests to produce a gain, despite currency declines, which are partially offset by local pricing and appreciation.
According to TipRanks, Amit Daryanani is ranked #684 out of 4,122 analysts with a 64% success rate recommending stocks and an average return per rating of 3.2%.