Hewlett-Packard’s “Outperform” Rating Reaffirmed at Wells Fargo & Co. (HPQ)
Hewlett-Packard (NYSE:HPQ)‘s stock had its “outperform” rating reiterated by equities researchers at Wells Fargo & Co. in a research report issued on Monday, ARN reports.
The analysts wrote, “We believe HP will likely deliver FY14 net income and free cash flow growth even absent revenue growth. While some secular headwinds persists, we believe several catalysts such as new products, mix shift benefit to margins and potential activism/divestitures could drive multiple expansion.”
A number of other analysts have also recently weighed in on HPQ. Analysts at Barclays Capital cut their price target on shares of Hewlett-Packard from $26.00 to $24.00 in a research note to investors on Wednesday, October 2nd. They now have an “equal weight” rating on the stock. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Hewlett-Packard in a research note to investors on Friday, September 27th. Finally, analysts at Cantor Fitzgerald initiated coverage on shares of Hewlett-Packard in a research note to investors on Thursday, September 19th. They set a “hold” rating and a $20.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.31.
Shares of Hewlett-Packard (NYSE:HPQ) traded down 0.89% on Monday, hitting $21.07. 1,850,479 shares of the company’s stock traded hands. Hewlett-Packard has a 1-year low of $11.35 and a 1-year high of $27.78. The stock has a 50-day moving average of $22.28 and a 200-day moving average of $23.32. The company’s market cap is $40.493 billion.
Hewlett-Packard (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.86. The company had revenue of $27.20 billion for the quarter, compared to the consensus estimate of $27.29 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was down 8.2% on a year-over-year basis.
Hewlett-Packard Company (NYSE:HPQ) is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including customers in the Government, health and education sectors.
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