JPMorgan resets HPQ stock price target ahead of earnings
For years, HP Inc. (HPQ) has been a company investors bought for the dividend, not the upside. A slow PC and printer business that pays a generous quarterly check, has a single-digit earnings multiple, and…
Lenovo earnings beat just changed how Wall Street prices HP
JPMorgan’s new target shows measured belief, not euphoria
Why the May 27 earnings print matters more than the rally
The cheap-stock setup that makes Friday’s move possible
What still has to go right for the bull case
- AI PCs make up a bigger share of total shipments than they did last quarter.
- Commercial demand stays strong through the long tail of the Windows 11 transition, which IDC expects to run well into next year.
- Memory cost inflation is offset by pricing, not absorbed into margins.
- HP stops losing U.S. market share after a sharp slip earlier this year, per BofA industry data reported on Yahoo Finance.
- Management holds the full-year outlook instead of trimming it.
HPQ vs the S&P 500: a relative-value story, not a momentum one
- The S&P 500 has climbed roughly 27% over the past 12 months, riding the AI infrastructure wave through every major mega-cap name, per FinanceCharts data
- HPQ has fallen roughly 24% over the same stretch, treated as a casualty of the cycle rather than a participant in it
- The S&P 500 has spent 2026 grinding higher, hitting record territory in late May
- HPQ is still down about 5% year-to-date, even after Friday’s double-digit surge erased months of losses
- The S&P 500’s dividend yield sits near 1.05%, per Multpl data, while HPQ pays close to 5%, a gap that signals how much pessimism is already priced in
