What Wall Street Analysts Think of HP Stock Ahead of Earnings

Core Viewpoint - HP is set to report its fiscal fourth-quarter earnings, with analysts adopting a cautious stance ahead of the announcement, reflected in the consensus ratings and price targets [1][2]. Group 1: Analyst Ratings and Price Targets - All six brokers tracked by Visible Alpha have assigned a "hold" or equivalent rating for HP, with a consensus price target of $34.83, approximately 11% lower than the stock's price of $39.21 at market opening on Monday [1]. - Morgan Stanley maintains an "equal weight" rating with a price target of $36, indicating a cautious outlook despite raising estimates for HP's October quarter [2]. Group 2: Earnings Expectations - The market anticipates HP to report revenue of $14.00 billion for the quarter, an increase from $13.81 billion year-over-year [2]. - Net income is expected to be $779.8 million, or 80 cents per share, down from $974 million, or 97 cents per share, from the previous year [2]. Group 3: Stock Performance - HP shares have experienced a 30% increase in 2024, indicating positive market sentiment despite the cautious outlook from analysts [1].