HP Inc. (NYSE:HPQ) reported better-than-expected earnings for its second quarter, while sales missed expectations.
HP posted adjusted earnings of 80 cents per share, topping market estimates of 76 cents per share. The company’s sales came in at $12.91 billion, versus estimates of $13.07 billion.
HP said it sees third-quarter adjusted earnings of 81 cents to 91 cents per share and FY23 adjusted earnings of $3.30 to $3.50 per share.
HP shares dropped 5.3% to $29.30 in today’s pre-market trading session.
These analysts made changes to their price targets on HP following earnings announcement.
- B of A Securities raised the price target on HP from $26 to $27. B of A Securities analyst Wamsi Mohan maintained an Underperform rating.
- UBS increased the price target on HP from $30 to $31. UBS analyst David Vogt maintained a Neutral rating.
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