HP analyst meeting to focus on guidance, PC recovery, more Evercore ISI says (HPQ)

Expectations are excessive for HP’s (NYSE:HPQ) securities analyst assembly being held on October 10.

Evercore ISI stated the most important focus will probably be a correction over commodity worth stabilization on condition that long-term margins for its PCs and print segments have held up properly.

The agency may even be in search of 2024 steerage and readability round PC restoration expectations and past, in addition to for print margins and the combination between workplace and residential demand. Subscription metrics and progress surrounding companies progress and technique will equally be on the road.

Analysts led by Amit Daryanani, who’ve a worth goal of $33 on the inventory, famous Berkshire Hathaway trimmed its place in HP (HPQ) in latest weeks.

5 key subjects that buyers will give attention to embody:

• Steerage for 2024. As well as, the corporate’s set to reiterate its capital allocation mandate of returning greater than 100% of free money move by way of dividends and buybacks.
• Subscriptions. HP (HPQ) ought to define its subscription income ramp and targets.
• PC Restoration. Anticipate an replace to market dimension and progress expectations with some coloration round how administration is anticipating the shipments and form of restoration to look subsequent 12 months.
• Print Roadmap. Anticipate an replace to market dimension and progress estimates with deeper dive into the respective sub-markets like dwelling, workplace, graphics and media.
• Excessive Development Markets. Anticipate HP (HPQ) to spend a while outlining the income alternative for its 5 progress vectors together with gaming, peripherals, prompt ink, industrial graphics & 3D and workforce options.

Evercore ISI maintained its In Line ranking on the inventory. The inventory has three Robust Purchase scores from Wall Avenue analysts, two Buys, 10 Holds, one Promote and one Robust Promote, based on information compiled by In search of Alpha.

Shares are down 3% year-to-date.