Market Overview

HP Stands For Highly Praised; Analysts Gush Over Q3 Print

Share:
HP Stands For Highly Praised; Analysts Gush Over Q3 Print

HP Inc (NYSE: HPQ) is getting a lot of love from investors on Thursday, with the stock jumping more than 35 percent following the company’s Q3 earnings report. Wall Street also seems to be aboard the HP train, with both Deutsche Bank and Loop Capital releasing bullish new reports this week.

On Wednesday, Deutsche Bank analyst Sherri Scribner praised HP’s 10 percent sales growth and said the company is demonstrating strength across the board. She pointed out that supply sales have stabilized and HP is consistently gaining PC market share.

“We remain encouraged by the momentum HPQ is seeing across its business, and we see further runway for growth with the closing of the Samsung acquisition, opportunity to gain share in the A3 market, and positive trends in graphics and 3D-printing,” Scribner wrote.

Related Link: HP Beats Earnings, Raises Guidance, And The Stock Drops

Loop Capital followed up with its own report on Thursday in which analyst Ananda Baruah highlights several new reasons to be bullish on HP. According to Baruah, HP’s long-term revenue growth outlook suggests potential upside to the flattish consensus view, and the company’s robust free cash flow should not be overlooked. In addition, he says HP has set expectations low with its guidance and has left the door open for upward revisions.

“We believe there exists a reflexive interplay in HPQ’s long-term model, such that either revenue or OM guidance would be conservative should the other one be achieved,” Baruah wrote.

Deutsche Bank maintains a Buy rating and $22 price target for HP stock. Loop Capital has a Buy rating and $23 price target.

Latest Ratings for HPQ

DateFirmActionFromTo
Nov 2020B of A SecuritiesMaintainsUnderperform
Nov 2020UBSMaintainsBuy
Nov 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for HPQ
View the Latest Analyst Ratings

 

Related Articles (HPQ)

View Comments and Join the Discussion!

Posted-In: Ananda Baruah Deutsche BankAnalyst Color Long Ideas Price Target Reiteration Analyst Ratings Trading Ideas Best of Benzinga

Latest Ratings

StockFirmActionPT
KALUBenchmarkUpgrades
YEXTDA DavidsonMaintains20.5
BYDB of A SecuritiesMaintains47.0
SAICMorgan StanleyMaintains98.0
PVHMorgan StanleyMaintains104.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com