HP Inc. price target lowered to $30 from $32 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on HP Inc. to $30 from $32 and keeps a Hold rating on the shares. The company delivered roughly in-line fiscal Q3 results with strong PC sales offsetting weakness in Print hardware, the analyst tells investors in a research note. However, HP Inc. lowered its fiscal 2023 earnings guidance to reflect weaker demand driven by slower recovery in China, elevated channel inventory in PC, and cautious enterprise spending, says the firm. It believes the stock at the current price is fairly valued.