HP Inc. (HPQ) Downgraded to “In Line” by Analysts

HP Inc. (HPQ) was downgraded by Evercore ISI analyst Amit Daryanani from Outperform to “In Line” with a price target of $29. The firm cited the need for stronger trends for earnings or cash flow growth, which are currently not visible due to various cross currents in the market.

The PC market is expected to continue growing, while printing may see a slight decline. HP has managed to offset tariffs through its supply chain efforts and cost cutting, with most North America products now made outside of China. However, challenges like temporary PC strength and increased competition from Dell may pose risks for future demand estimates.