Barclays Downgrades HP Inc. (HPQ) to Underweight, Cuts Target to $18

Core Viewpoint - HP Inc. is facing significant secular challenges in both its PC and printing businesses, leading to a downgrade by Barclays and a reduced price target [1][2] Group 1: Stock Performance and Analyst Ratings - Barclays downgraded HP Inc. to "Underweight" from "Equal Weight," lowering the price target from $24.00 to $18.00 [1] - Wall Street analysts have a consensus "Buy" rating on HP Inc., with an average price target of $25, indicating a potential upside of 22.73%, while the highest target of $30 suggests a 47.28% upside [3] Group 2: Business Challenges - The current memory cycle is expected to pressure HP's PC business, which is significantly consumer-focused, with approximately 30% of the Personal Systems segment being consumer-oriented [2] - Analysts believe that the combination of secular challenges in both PCs and printing, along with a lack of catalysts, will keep the stock under pressure through 2026 [2]