BUZZ-HSBC upgrades HP to 'buy' on improved PC sales momentum
HSBC has upgraded HP Incto 'buy' from 'hold', raising the price target to $30 from $28. The upgrade follows improved PC sales momentum, with shares rising 2.4% to $28. HSBC anticipates a surge in new device purchases as Microsoft ends support for Windows 10. The brokerage also notes reduced tariff risks due to HP's shift away from China imports and a less negative outlook for printer sales. HP is set to report its quarterly results next month, with an average analyst rating of 'hold' and a median price target of $28.1.
Shares of PC maker HP Inc (HPQ.N) rise 2.4% to $28 in early trading
HSBC upgrades stock to “buy” from “hold”, raises PT to $30 from $28.1
Brokerage says co’s PC unit sales look better than it previously expected, citing data from research firms IDC and Omidia
With Microsoft ending support for Windows 10 by October 14, HSBC expects a surge in new device purchases
HSBC says co’s shift away from China imports has lowered tariff risks; adds printer sales outlook “less bad than feared”
Co will report its quarterly results next month
Avg rating of 18 analysts is “hold”; median PT is $28.1, according to data compiled by LSEG
including session moves, stock down 14% YTD
