HP's (HPQ) fiscal Q3 revenue from its personal systems business is likely to see upside considering strong industry data, BofA Securities analysts said in a Wednesday note.

HP is scheduled to report its fiscal Q3 results on Aug. 27.

The brokerage said key topics that investors will be on the lookout for in HP's fiscal Q3 results are the impact of demand pull-in on personal systems revenue, the extend of remaining exposure from tariffs in the personal systems business and the level of pricing and margin stability.

BofA Securities said it expects the company to post non-GAAP EPS of $0.73 in fiscal Q3, compared with the company's guidance of between $0.68 and $0.80. Analysts polled by FactSet expect $0.75.

The brokerage expects HP's fiscal 2025 non-GAAP EPS of $3.06, compared with the company's guidance between $3.00 and $3.30.

BofA reiterated neutral rating on the stock and a $29 price objective.

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