HP Inc. Price Targets Cut to $19, $20 as Shares Fall 44%
JPMorgan lowered its HP Inc. price target to $19 from $21 after revising its fiscal Q1 outlook, maintaining a Neutral rating. Citi followed suit, cutting its target to $20 from $22 as HP shares fell to $18.81, a 44% drop from last year’s high.
1. JPMorgan Revises Outlook
JPMorgan trimmed its HP Inc. price target from $21 to $19 following the fiscal Q1 earnings update, retaining a Neutral rating and noting that pull-forward demand may obscure underlying weakness in PC demand.
2. Citi Lowers Price Target
Citi maintained a Neutral stance on HP while cutting its target from $22 to $20, citing persistent headwinds in end-demand for personal computers that weigh on near-term revenue growth.
3. Share Price Decline
HP’s shares reached $18.81 on February 26, representing a 44% decline from the 52-week high of $34.07, as analysts and investors grew more cautious about the company’s growth prospects.
4. Industry Demand Concerns
Broader PC market challenges, including softer consumer demand and inventory adjustments across channels, underpin analysts’ tempered forecasts and contribute to the subdued sentiment around HP’s short-term performance.