UBS raises HP price target following “breakthrough quarter”, HP down 2.9%
Seeking Alpha
Published May 25, 2017 12:42PM ET
UBS raises HP price target following “breakthrough quarter”, HP down 2.9%
- UBS analyst Steven Milunovich raises HP’s (NYSE:HPQ) price target from $20 to $22 based on the “breakthrough quarter,” stating that HP has faster growth than spinoff HP Enterprises. UBS reiterates its buy rating.
- Milunovich cites the Q2 sales growth stabilization of printer and printer supply sales and is optimistic about future growth in A3 copying and 3D printing. UBS expects FCF to hit $2.6B.
- Meanwhile, Bernstein analyst A.M. Sacconaghi, Jr. keeps the outperform rating and $21 price target despite positive comments on the quarter performance and a belief that the FCF and EPS guidance for fiscal 2017 were conservative.
- HP shares are down 2.9% at 12:40 pm, reducing some of the aftermarket gains.
- Source: The Fly.
- Previously: HP +3.6% on Q2 beats
- Now read: HP Inc.: Pristine Results
Original article
Get The News You Want
Written By: Seeking Alpha
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.