HP joins mega-tech layoff frenzy; Here’s a Look at Price Target Cuts by the Most Accurate Analysts – HP (NYSE:HPQ)

HP Inc. hpq Announced plans to cut 6,000 jobs by the end of fiscal year 2025. The company reported an 11% decline in revenue for the fourth quarter and also issued a weak profit forecast for the current quarter.

HP raised its quarterly dividend from $0.25 to $0.2625 per share.

HP shares rose 2.1% to $30.00 in the after-hours trading session.

Let’s take a look at how Benzinga is the most accurate Analysts rated the company in the recent period.

  • B of A Securities analyst Vamsi Mohan Maintained Underperform rating on Nov 18, 2022, but reduced the price target to $27 from $30. Mohan sees a move in the company’s stock by about 8% and has an accuracy rate of 78%.
  • Citigroup’s analyst gym suva Reiterated a neutral rating on the stock on November 18, 2022, but reduced the price target to $31 from $33. This analyst sees an upside of more than 5% for the company’s stock, but has an accuracy rate of 64%.
  • credit Suisse analyst shannon cross Reduced the company’s stock from Outperform to Neutral with a price target of $33 on November 18, 2022. Cross sees about 12% upside in the company’s stock but has an accuracy rate of only 20%.
  • morgan stanley analyst Eric Woodring Maintained Underweight rating on the stock on October 17, 2022, but reduced the price target to $24 from $28. Woodring sees a downside risk of about 18% for the company’s stock and has an accuracy rate of 33%.
  • loop capital analyst Anand Barua Downgraded the company’s stock from Buy to Hold on November 18, 2022 and reduced the price target from $50 to $29. This analyst sees a downside risk of about 1% for the company’s stock and has an accuracy rate of 65%.

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