BUZZ-HP Inc shares dip despite beating Q3 revenue estimates
HP Inc shares fell 1.6% to $26.68 in premarket trading despite beating Q3 revenue estimates with $13.93 billion, driven by AI demand and Windows 11 upgrades. J.P. Morgan raised the price target to $30, maintaining an "overweight" rating, citing a favorable outlook for HP's Personal Systems segment. The print business is also improving, helping to alleviate profit pressures. However, HPQ shares are down 17% year-to-date, with an average stock rating of "hold" and a median price target of $27.
Shares of PC maker HP Inc (HPQ.N) fall around 1.6% to $26.68 in premarket Co beats Wall Street estimates for third-quarter revenue on Wednesday, driven by growing demand for artificial intelligence-powered personal computers and Windows 11 upgrade cycle
J.P.Morgan raises PT to $30 from $27; maintains “overweight” rating
Brokerage says HP’s Personal Systems segment is favorably positioned and expects it to be the key driver of co’s recovery
The company’s third-quarter revenue rose about 3% to $13.93 billion, beating analysts’ average estimate of $13.70 billion, according to data compiled by LSEG
JPM says HP’s print business is improving and should help ease profit pressure
Stock rated “hold” on average; median PT is $27, per data compiled by LSEG
As of last close, HPQ down about 17% this year
