Posted by on November 25, 2021 6:01 am
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Categories: Breaking News Epoch Times News

Analysts Bump up Price Targets on This Tech Giant Post Q4 Success

Analysts bumped up price targets on HP Inc post Q4 beat. BofA analyst Wamsi Mohan raised the price target to $33 from $29, implying fair-priced, and reiterated an Underperform. HP reported fiscal Q4 results that beat Street consensus estimates. Better-than-expected average selling prices for Personal Systems, where supply constraints helped HP price more competitively, and a higher contribution from commercial PCs/peripherals having improved the mix. While Mohan notes that HP management expects higher PC revenues in FY22, he remains cautious on a bounce-back in PC unit sales given tougher comps linked to work from home-related purchasing during the pandemic. Deutsche Bank analyst Sidney Ho raised the price target to $36 from $32, implying an 11.8 percent upside, and maintained a Hold following the “solid” fiscal Q4 results and Q1 guidance. HP showed improved execution on the supply chain and a continued healthy demand environment in both its businesses, particularly on …

Originally appeared on The Epoch Times

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