HP Shares Face Critical Test Amid Persistent Downtrend

HP’s stock performance continues to disappoint investors as the company struggles to reverse a significant downward trajectory. Year-to-date, the shares have declined by 15.2%, while the twelve-month performance shows an even steeper drop of nearly 30%. This weakness stands in stark contrast to broader market indicators, with the S&P 500 advancing 16.3% and the technology sector posting impressive gains of 29.3% over the same period.

Financial analysts remain predominantly cautious, with most maintaining “Hold” ratings on the stock. Consensus price targets range between $28.23 and $29.63, suggesting limited upside potential from current trading levels. However, beneath this apparent consensus lies significant disagreement among major financial institutions.

On October 14, HSBC upgraded HP to “Buy” Read more...