BofA lowered the firm’s price target on HP Inc. (HPQ) to $29 from $33 and keeps a Neutral rating on the shares after the company reported fiscal Q2 EPS below consensus and guidance due to a roughly 12c impact in the quarter from tariffs and lowered their FY25 EPS guidance by 45c to $3.00-$3.30 due to tariffs. For the fiscal year, the firm takes a more conservative stance and models towards the low end of guidance for EPS, or $3.06, to reflect the uncertainty on tariffs, cost increases from moving production out of China, and lower growth from the PC refresh cycle.
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Read More on HPQ:
- HP Inc. price target lowered to $26 from $37 at UBS
- HP Inc. price target lowered to $25 from $35 at Wells Fargo
- HP Inc. price target lowered to $27 from $30 at JPMorgan
- HP’s Strategic Positioning and Recovery Potential Justify Buy Rating Despite Macroeconomic Challenges
- HP Inc. price target lowered to $27.50 from $29 at Citi
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