Morgan Stanley lowered the firm’s price target on HP Inc. (HPQ) to $26 from $29 and keeps an Equal Weight rating on the shares. The FY25 guide-down reflects the impact of tariffs, execution, and management conservatism, which likely leaves shares in “the penalty box” despite a “cheap” valuation, the analyst tells investors. The lack of a positive company-specific catalyst keeps the firm on the sidelines, the analyst added.
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