Loop Capital analyst Ananda Baruah lowered the firm’s price target on HP Inc. (HPQ) to $30 from $35 and keeps a Hold rating on the shares. The company’s Q1 saw its third consecutive quarter of y/y revenue growth, driven by strength in Personal Systems, but consumer demand remained soft, the analyst tells investors in a research note. Print revenue also declined 1% as strong consumer hardware performance was offset by weakness in commercial print, particularly in China, the firm adds.
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