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What Wall Street Analysts Think of HP Stock Ahead of Earnings

stock :: 2024-11-26 :: source - investopedia

By Andrew Kessel

David Paul Morris / Bloomberg via Getty Images

HP (HPQ) will report fiscal fourth-quarter earnings after the bell Tuesday, and analysts are taking a wait-and-see approach with the maker of PCs and printers.1

All six brokers tracked by Visible Alpha have a "hold" or equivalent rating for HP, with a consensus price target of $34.83. That's about 11% lower than the stock's price of $39.21 soon after markets opened Monday. Shares of HP have gained 30% in 2024. 

Morgan Stanley described its outlook as "tactically cautious into earnings," while maintaining its "equal weight" rating and $36 price target.2 The firm raised its estimates for HP's October quarter, calling for better-than-consensus results from the company's Personal Systems and Print divisions, but that overperformance is "already priced in," analysts said, 

Overall, the Street expects HP to report revenue of $14.00 billion, up from $13.81 billion a year ago, and net income of $779.8 million or 80 cents per share, down from $974 million or 97 cents per share.

[Source :: Investopedia]

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