BofA, Evercore, and Morgan Stanley Cut Price Targets for HP Inc. (HPQ)

BofA, Evercore ISI, and Morgan Stanley have all cut their price targets for HP Inc. (HPQ) following the company’s recent earnings results. Analysts cited factors like slower PC unit growth, margin pressure from memory costs, leadership transition uncertainty, and a tough memory environment for their revised outlooks. Despite Morgan Stanley seeing the stock as “cheap,” they forecast over 14% downside risk to fiscal year 2026 EPS guidance.