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25 September 2019
Stock Market Down Grades HP Because Of Printing
NEW YORK—
The stock market appears to have down grading HP . "With supplies growth expected to be negative in both 2019 and 2020, and supplies now having declined at a 4% since 2011, we worry that printing may be facing greater structural headwinds from the shift to digital and increased pressure from cloned/remanufactured supplies," one analyst wrote.
"In short, there is a higher likelihood the printing business is a 'melting ice-cube'-despite myriad efforts by HP to improve the business-and the stock accordingly warrants a lower multiple." The credibility has been "seriously undermined by having guided down supplies twice this year." HP shares have dropped 7.1% so far this year, as the S&P 500 SPX, +0.62% has risen 19%.
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