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HP Inc (HPQ) Gets a Hold Rating from Guggenheim


In a report released yesterday, Rob Cihra from Guggenheim maintained a Hold rating on HP Inc (NYSE: HPQ). The company’s shares opened today at $26.89, close to its 52-week high of $27.08.

Cihra commented:

“We continue to estimate HPQ slowing back down in FY19E, both in PCs (e.g., lapping DRAM-driven ASP increases) and Printing (lapping FY17’s rebound from FY16’s big inventory realignment), with its margins also under pressure. Investors may admittedly remain happy enough with its “consistency,” however, which seems sustainable given recurring high-margin revs from Printing Supplies and FCF driven by its high-turns/low- capital (so high ROIC) PC business.”

According to TipRanks.com, Cihra is a 4-star analyst with an average return of 7.5% and a 52.1% success rate. Cihra covers the Consumer Goods sector, focusing on stocks such as Western Digital, Corning Inc, and Netgear.

Currently, the analyst consensus on HP Inc is a Moderate Buy with an average price target of $27.71, representing a 3.0% upside. In a report released today, Morgan Stanley also maintained a Hold rating on the stock with a $28 price target.

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Based on HP Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $14.61 billion and net profit of $880 million. In comparison, last year the company earned revenue of $13.09 billion and had a net profit of $696 million.

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HP Inc. enages in the provision of personal computing and other access devices, imaging and printing products, and related technologies, solutions, and services. It operates through following business segments: Personal Systems, Printing, and Corporate Investments.