HP Inc. downgraded to Impartial at BofA on print margin reversion
As beforehand reported, BofA analyst Wamsi Mohan downgraded HP Inc. to Impartial from Purchase with an unchanged worth goal of $37. The ranking change relies on the view that any EPS development will come purely from share buybacks as potential upside from PCs, together with AI PCs, must be offset by decrease print margins provided that firm has been “over-earning in printing,” the analyst tells traders. The agency, whose evaluation means that will probably be onerous for HP to drive “materials optimistic estimate revisions,” notes that it lowered its personal estimates “modestly.”
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