0906 ET - A quarter of pricier commodities is offsetting the benefits to HP's stock from a long-awaited recovery in the personal computer market. UBS analysts say in a research note that operating margins in the company's personal systems segment missed their estimates because of higher commodity costs, which are expected to continue into the current quarter. The analysts say shares are trading lower because of that hit to margins, despite an anticipated improvement in consumer PC demand in the next year and strength in commercial PCs. They back their neutral rating and $37 price target. Shares slide 7% premarket. (ben.glickman@wsj.com; @benglickman)
(END) Dow Jones Newswires
November 27, 2024 09:06 ET (14:06 GMT)
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