HP Inc. upgraded to Equal Weight from Underweight at Barclays

Barclays analyst Tim Long upgraded HP Inc. to Equal Weight from Underweight with a price target of $30, up from $24. The firm is using a higher multiple for the shares as it believes unit stabilization and some hope around artificial intelligence PCs will support the stock at these levels. The analyst still sees some risk to second half of 2024 estimates, but views the downside as more limited.