HP Inc. price target raised to $22 from $19 at JPMorgan

JPMorgan analyst Samik Chatterjee raised the firm’s price target on HP Inc. (HPQ) to $22 from $19 and keeps a Neutral rating on the shares. The firm cites the reversal of memory related concerns for the recent rally in the IT hardware group. Heading into the earnings prints, JPMorgan is most positive on Dell Technologies and HP Enterprise. It believes earning estimate increases will reinforce the companies’ medium-term earnings growth outlooks and return the shares to valuation multiples “more appropriate for the medium-term earnings growth outlook.”