12:20 PM EDT, 05/30/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target to $37 from $31 on a P/E of 10x our CY 2025 EPS view of $3.68, below peers on near-term growth headwinds. We up our FY 2024 EPS view to $3.45 from $3.40 and FY 2025's to $3.67 from $3.63. HPQ posted Q2 EPS of $0.82 vs. $0.75, above consensus by $0.01. HPQ delivered better-than-expected results with flat revenue (-0.9% Y/Y) as Personal Systems growth (PS; +3%) offset an 8% decline in Printing. The PS upside was driven by commercial recovery tailwinds, while Printing softness stemmed from demand challenges in China/Europe. Commercial PS revenue rose 6%, but was tempered by a 12% drop in Commercial Print and a 16% decline in Consumer Print amid intense pricing pressures. While near-term consumer dynamics remain choppy, we expect improving PC trends in 2H 2024, anchored by commercial strength. Longer term, HPQ is poised to capitalize on an anticipated PC refresh cycle in FY 2024/FY 2025 catalyzed by Windows 11 migration and new AI-optimized devices. We forecast $3.3B in FY 2024 FCF.