Morgan Stanley Believes HP (HPQ) Won’t Stop Here


Morgan Stanley analyst Kathryn Huberty maintained a Buy rating on HP (HPQ) today and set a price target of $38.00. The company’s shares closed last Friday at $29.69, close to its 52-week high of $30.00.

According to TipRanks.com, Huberty is a 5-star analyst with an average return of 13.9% and a 62.2% success rate. Huberty covers the Technology sector, focusing on stocks such as International Business Machines, Hewlett Packard Enterprise, and Dell Technologies.

HP has an analyst consensus of Hold, with a price target consensus of $30.25, which is a 2.8% upside from current levels. In a report released today, J.P. Morgan also upgraded the stock to Buy with a $35.00 price target.

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HP’s market cap is currently $35.14B and has a P/E ratio of 13.70. The company has a Price to Book ratio of -3.73.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HPQ in relation to earlier this year. Most recently, in December 2020, Tracy Keogh, the Chief HR Officer of HPQ sold 337,197 shares for a total of $8,119,442.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. The Personal Systems segment offers commercial and consumer desktop and notebook personal computers, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support and services for the commercial and consumer markets. The Printing segment gives consumer and commercial printer hardware, supplies, solutions and services,and scanning devices. The Corporate Investments segment includes HP Labs and certain business incubation projects. The company was founded by William R. Hewlett and David Packard in 1939 and is headquartered in Palo Alto, CA.

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