Goldman Sachs raised its price target on HP Inc. to $19 from $16 while reiterating a Sell rating following the company's second-quarter earnings report. The firm cited sharp increases in input costs and growing competition in the PC market that could make it difficult for HP's product mix shifts, price increases, and supply chain measures to fully offset industry headwinds in the second half of fiscal 2026 and into fiscal 2027. BofA also increased its price goal on HP to $18 from $16 and maintained an Underperform rating, noting better-than-expected fiscal second-quarter results but a narrowed upper end of fiscal 2026 earnings per share guidance and an unchanged free cash flow forecast of $2.8 billion to $3 billion. BofA's Underperform rating reflects concerns about slower growth in PC unit sales, margin pressure from higher memory costs, and uncertainty surrounding the company's leadership transition.
Bank of America Corp
Goldman Sachs Group IncHP IncGoldman Sachs and BofA both raised price targets but maintained Sell/Underperform ratings, citing input cost increases, competition, and margin pressure.