HP Inc. price target raised to $32 from $31 at Morgan Stanley

Morgan Stanley raised the firm’s price target on HP Inc. (HPQ) to $32 from $31 and keeps an Equal Weight rating on the shares ahead of earnings due on August 29. The firm’s recent CIO, VAR and supply chain checks point to “green shoots” in the PC market, “still challenged” Server/Storage demand, and deteriorating Print hardware shipments, the analyst tells investors in a preview note. The firm expects in-line July quarters for both Dell (DELL) and HP, but still prefers Overweight-rated Dell given what it calls “a more attractive catalyst path,” the analyst added.