HP Inc. price target lowered to $16 from $18 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on HP Inc. (HPQ) to $16 from $18 and keeps an Underweight rating on the shares. Fiscal Q1 earnings “played out largely as we expected,” with HP cutting EPS and free cash flow guidance only modestly despite persistent input cost pressure and risk of demand destruction in the second half of the fiscal year, the analyst tells investors. While adding that the stock is “cheap,” the firm notes it still sees 14%-plus downside to FY26 EPS guidance.