Analysts bumped up price targets on HP Inc post Q4 beat. BofA analyst Wamsi Mohan raised the price target to $33 from $29, implying fair-priced, and reiterated an Underperform. HP reported fiscal Q4 results that beat Street consensus estimates. Better-than-expected average selling prices for Personal Systems, where supply constraints helped HP price more competitively, and a higher contribution from commercial PCs/peripherals having improved the mix. While Mohan notes that HP management expects higher PC revenues in FY22, he remains cautious on a bounce-back in PC unit sales given tougher comps linked to work from home-related purchasing during the pandemic. Deutsche Bank analyst Sidney Ho raised the price target to $36 from $32, implying an 11.8 percent upside, and maintained a Hold following the “solid” fiscal Q4 results and Q1 guidance. HP showed improved execution on the supply chain and a continued healthy demand environment in both its businesses, particularly on …
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