HP Inc
HPQ: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$96.00 | Dpd | Brkqcxfy |
HP Lacks a Moat, but Its Distributions Could Be Attractive Upon a Greater Pullback; $30 FVE
We are modestly raising our fair value estimate for HP to $30 per share, from $29 previously, after revising our long-term forecasts. We maintain our no moat and negative moat trend ratings, along with our High Morningstar Uncertainty Rating and Standard Morningstar Capital Allocation Rating. With shares trading around $28, we recommend a greater margin of safety to investors, but we view HP’s shareholder returns as an attractive attribute at a better valuation.