BofA analyst Wamsi Mohan lowered the firm’s price target on HP Inc. to $25 from $27 and keeps an Underperform rating on the shares after HP lowered FY23 guidance for EPS and free cash flow along with the company’s Q3 report. The firm expects HP to provide FY24 guidance at the SAM in October, but BofA lowered its own FY24 estimates on the weaker outlook as it sees margins re-rating lower in FY24, the analyst tells investors.
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