Hewlett-Packard Company (NYSE:HPQ): Wells Fargo Analysts Reiterated “Outperform” Rating

0
706

Dallas, Texas 05/22/2014 (FINANCIALSTRENDS) – The stock of Hewlett-Packard Company (NYSE:HPQ) was reassigned an “outperform” rating by equity research analysts at Wells Fargo & Co. (NYSE:WFC) in a research note released on Tuesday, May 20, 2014. The rating was reiterated as Well Fargo analyst believes that the Hewlett-Packard is likely to report net income and free cash flow growth for FY14 even if revenue remains flat. The analyst regarded new products, and mix shift could potentially benefit the company while mergers and acquisitions, divestitures or potential activism could help drive multiple expansions.

According to research firm Gartner, HP Company is doing well in EMEA region with market share growing to 16% of the PC market with 12.2 million units in the recently ended quarter as compared to 15.1% or 11.78 million units in a year ago quarter. The Street also recently mentioned that HP is still driving large portion of its revenue from PCs and Printers segments despite overall downtrend in the PC industry.

Rating Updates:

The stock of Hewlett-Packard Company (NYSE:HPQ) has also received ratings updates from number research firms in recent time. Equities research analysts at Brean Capital upgraded their price target on shares of the HP to $40 from a previously set target price of $34, in a research note released on Monday, May 19, 2014. They now maintain a “buy” rating for the stock.

Investment analysts at Pacific Crest also upgraded the stock of HP from a “sector perform” rating to an “outperform” rating. They now maintain a price target of $37 on the stock. Equity analysts at S&P Equity Research also upgraded the stock of HP to a “buy” rating.

Consensus Estimate:

The stock of Hewlett-Packard Company (NYSE:HPQ) has been assigned a “hold” rating by fourteen research analysts following the stock; and a “buy” rating by fourteen analysts. HP Company currently has a consensus rating of “buy” with an average price target of $31.55.

Stock Update:

Yesterday, the stock closed at $32.52, losing 0.85% from its previous close.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.