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Benzinga
Benzinga
Business
Priya Nigam

Morgan Stanley Downgrades HP On Potentially Lower Hardware Spend

Morgan Stanley HP Erik Woodring

The hardware industry is at risk of losing market share to other technology sub-industries due to greater macro uncertainty, “leaving us incrementally more cautious on the group in 2022,” according to Morgan Stanley.

The HP Analyst: Erik Woodring downgraded the rating for HP Inc (NYSE:HPQ) from Equal-Weight to Underweight, while reducing the price target from $34 to $31.

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