HP Inc. HPQ reported weaker-than-expected third-quarter sales results and lowered its full-year earnings guidance.
The company expects full-year earnings per share of between $4.02 and $4.12 versus the estimate of $4.30 per share. HP previously forecast full-year earnings in a range of $4.24 to $4.38 per share.
HP shares fell 6.2% to $29.18 in premarket trading.
Several analysts changed their price targets for HP today.
- CreditSuisse lowering the price target on the stock from $39 to $33. Credit Suisse analyst Shannon Cross kept an Outperform rating on the stock.
- Wells Fargo Share price target lowered to $25 from $30. Wells Fargo analyst Aaron Rakers kept HP at an underweight position.
- UBS lowered the price target for the stock from $40 to $32. UBS analyst David Vogt kept HP at a neutral rating.
- Barclays lowering the price target on the stock from $32 to $27. Barclays analyst Tim Long kept the stock underweight.
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