<div id="readability-page-1"><p>12:25 PM EST, 01/15/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:</p><p>We cut our 12-month target price to $19 from $26, shifting to 6x our CY 27 EPS view of $3.20, below peers due to anemic growth. We keep our FY 26 and FY 27 EPS view at $3.09 and $3.28. We downgrade to Sell from Hold as we believe unprecedented memory cost inflation will materially compress margins beyond what guidance reflects, while revenue growth remains insufficient to offset these headwinds. DRAM prices have surged 70% YoY with certain components up 170%, and memory represents roughly 15%-18% of PC bill-of-materials. We think HP's mitigation efforts, additional suppliers, optimizing configurations,  and price increases are inadequate given the magnitude of cost pressures expected through H2 FY 26. PS faces execution risk as memory shortages constrain lower-end volume while competitive dynamics limit pricing power. Meanwhile, Print continues its secular decline, with hardware units down double-digits. We believe the risk/reward is unfavorable with limited upside to our $19 target price.</p> <p>MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</p></div>

惠普

<p>CFRA 已将对惠普公司（HP Inc.）股票的评级从持有下调至卖出，并将 12 个月目标价从 26 美元下调至 19 美元。此次下调的原因是预计由于内存成本上涨导致利润率压缩，以及收入增长不足。分析师指出，DRAM 价格大幅上涨，并强调了惠普应对策略中的风险。打印业务也面临下滑，导致投资者面临不利的风险/回报情境</p>

研究警报：CFRA 将惠普公司的股票评级从持有下调为卖出