HP Inc. price target lowered to $26 from $27 at BofA

BofA lowered the firm’s price target on HP Inc. to $26 from $27 and keeps an Underperform rating on the shares after the company reported fiscal Q1 results that were weaker than expected and noted weakening large enterprise demand, continued pricing pressure and longer sales cycles in PCs. The company maintained its prior fiscal year view on EPS and free cash flow and said it now expects segment margins to be higher, driven by faster cost improvements and improving mix, but BofA remains skeptical that the company will be able to ultimately deliver on its targets.