tiprankstipranks
HP Inc. downgraded to Neutral from Buy at Citi
The Fly

HP Inc. downgraded to Neutral from Buy at Citi

Citi downgraded HP Inc. to Neutral from Buy with an unchanged price target of $37. The firm cites a more cautious view of the PC recovery in the second half of 2024 for the downgrade. Recent channel checks in the PC ecosystem suggest the near-term PC refresh opportunity remains protracted, given macro uncertainty and Windows 10 security patch extensions, while artificial intelligence impacts are likely further out into 2026 and 2027, the analyst tells investors in a research note. Citi sees print headwinds persisting for HP in “aggressive” hardware pricing and says continued Chinese macro weakness is likely to limit positive estimate revisions ahead.

Don't Miss Our Christmas Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App