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HP buybacks in focus after Xerox's exit

Apr. 01, 2020 9:55 AM ETHPQ, XRXBy: Brandy Betz, SA News Editor11 Comments
  • Yesterday, Xerox (XRX -3.7%) dropped its hostile takeover bid for HP (HPQ -8.0%). Analysts aren't surprised.
  • Morgan Stanley says XRX investors will now focus on its "path to revenue stabilization, which we believe will be difficult to achieve in the near-to-medium term."
  • The firm expects HP to hold off on large-scale buybacks until after the April quarter earnings.
  • Evercore thinks HP could reduce its buyback program but still thinks the "momentum will be sizable."

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