HP (HPQ) Stock: $40 Price Target From UBS

Apr 11th, 2022 21:45 EST
  • The shares of HP Inc (NYSE: HPQ) have received a $40 price target from UBS. These are the details.

The shares of HP Inc (NYSE: HPQ) have received a $40 price target from UBS. And UBS analyst David Vogt adjusted the rating from “Buy” to “Neutral.”

Vogt adjusted the rating as the company has shown solid execution, but the shares are likely to tread water as the risk/reward is now balanced. And Vogt cited a confluence of factors for the rating adjustment, including incremental signs of softness in low-end consumer PCs following recent checks over the past month along with the likelihood of a slower buyback next year following the expected close of the Plantronics deal in late 2022. 

Plus Vogt pointed out that the Plantronics deal could be 8% earnings accretive in fiscal 2022 but is not without risk.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

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