HP Inc. downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded HP Inc. (HPQ) to Underweight from Equal Weight with a price target of $18, down from $24. While the shares are “inexpensive,” secular challenges across both computers and printing, combined with a lack of catalysts, will keep HP pressured in 2026, the analyst tells investors in a research note. Additionally, Barclays expects the current memory cycle to pressure the company’s PC business with further downside potential in the year.