HP Inc. price target lowered to $29 from $33 at BofA

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.