HP Inc. price target raised to $35 from $30 at Wells Fargo

Wells Fargo analyst Aaron Rakers raised the firm’s price target on HP Inc. (HPQ) to $35 from $30 and keeps an Underweight rating on the shares. While the firm continues to expect HP Inc. to benefit from the ongoing AI PC cycle, it sees the firm facing increased headwinds in its IPG segment as the threat of tariffs, competitive pricing environment, and inflation hit.