Citi lowered the firm’s price target on HP Inc. (HPQ) to $36.50 from $37 and keeps a Neutral rating on the shares. The stock traded down 7% post earnings as the guidance missed expectations on a more muted PC recovery than expectations, with inflated commodity costs impacting PC margins in the near term, the analyst tells investors in a research note. The firm says the PC recovery is expected to gain momentum in the quarters ahead with margin improvement as cost and pricing actions flow through.
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Read More on HPQ:
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