Why HP Stock Is Falling Today

·1 min read
Why HP Stock Is Falling Today

Shares of HP (NYSE: HPQ) tumbled Tuesday morning after an analyst downgraded the company and cut his price target for the stock. Evercore ISI analyst Amit Daryanani downgraded HP from his previous outperform rating to an in-line rating and cut his price target for its shares from $43 to $36. Daryanani believes the PC industry will be affected by slowing consumer demand in several markets, including Europe and China, and said that total industry shipments will be under 300 million for the year.

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