Maxim Group analyst Nehal Chokshi maintained a Buy rating on HP Inc (NYSE: HPQ) today and set a price target of $32. The company’s shares closed yesterday at $26.06, close to its 52-week high of $26.34.
“EPS Guidance ahead of our estimates and consensus; raising 12-month price target to $32, from $29, optionality of 3D printing remains exciting. Sustained PC (~30% of operating profits) profitable share gain powered by differentiated security & manageability within commercial space (see page 2). Sustained printing (~70% of operating profits) growth powered by adjacent market share gains in copier & graphics (see page 2).”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 18.2% and a 66.3% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for HP Inc with a $28.67 average price target, a 10.0% upside from current levels. In a report issued on October 2, RBC Capital also maintained a Buy rating on the stock with a $29 price target.
HP Inc’s market cap is currently $41.24B and has a P/E ratio of 9.55. The company has a Price to Book ratio of -23.34.
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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.