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HP Inc. price target lowered to $25 from $35 at Wells Fargo

Wells Fargo lowered the firm’s price target on HP Inc. (HPQ) to $25 from $35 and keeps an Underweight rating on the shares. The firm cites weaker-than-expected Q2 results and reduced FY25 guide amid higher-than-expected tariff impacts on PSG operating margin. Wells highlights continued signs of muted PC demand and AI PC ASP uplift.

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