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HP Inc. stock likely to underperform, Wells Fargo warns

Yahoo Finance Video

Yahoo Finance Live’s Brian Sozzi discusses HP's stock performance after Wells Fargo downgraded shares to underweight.

Video Transcript

BRIAN SOZZI: All right, before we head to break, let's take a look at shares of HP Inc. The stock is getting unplugged today, after Wells Fargo downgraded the computer maker from equal weight to underweight and slashed its price target to $30 from $35. Wells Fargo analyst Aaron Rakers cited, quote, "deteriorating PC fundamentals and macroeconomic sensitivity" in HP's printer results as a reason behind the cuts.