2024-04-11 10:01:26 ET
Summary
- Upgrading HP to bullish, as this stock is a great consideration for investors focusing on value in the current market environment.
- The company has a wide product lineup, a high-margin printing business, and aggressive shareholder returns programs.
- While there are risks, such as the decline in the printing business, HP's cheap valuation and solid cash generation make it an attractive investment.
- Recent recovering trends outside of the U.S. as well as stronger PC unit sales are also positive near-term catalysts.
Right now, the stock market is all about interest rate expectations. With markets reversing course and turning south after a hotter-than-expected inflation reading (reducing the likelihood that the Fed will be as aggressive with rate cuts), it’s a good time for investors to focus on value....
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HP Inc.: Great Investment In Choppy Times (Rating Upgrade)