HP, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Wamsi Mohan from Bank of America Securities reiterated a Hold rating on the stock and has a $29.00 price target.
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Wamsi Mohan has given his Hold rating due to a combination of factors impacting HP’s financial outlook. The upcoming fiscal third quarter is expected to test the company’s ability to maintain margins amidst fluctuating PC demand and ongoing tariff challenges. While HP has implemented strategic pricing actions to mitigate these impacts, the overall effect on gross margins and operating margins remains a concern.
Additionally, the forecast for fiscal year 2025 suggests that earnings per share growth will largely depend on share buybacks, with potential gains from a PC refresh being counterbalanced by weaker operating margins in the Print segment. Despite some positive momentum in commercial PC revenues, the consumer segment is expected to see limited growth. Given these mixed signals, Mohan maintains a cautious stance with a price objective of $29, reflecting a balanced view of potential risks and opportunities.
According to TipRanks, Mohan is a 5-star analyst with an average return of 13.2% and a 61.88% success rate. Mohan covers the Technology sector, focusing on stocks such as Apple, International Business Machines, and Seagate Tech.
In another report released on August 19, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $29.00 price target.