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HP Stands For Highly Praised; Analysts Gush Over Q3 Print

Courtesy of Benzinga.

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

Date Firm Action From To
Aug 2017 Loop Capital Initiates Coverage On Buy
Jul 2017 RBC Capital Upgrades Sector Perform Outperform
Jul 2017 Susquehanna Initiates Coverage On Neutral

View More Analyst Ratings for HPQ


View the Latest Analyst Ratings

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


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