UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on Hewlett-Packard Company on Good FCF

In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on Hewlett-Packard Company HPQ, and raised its price target from $14.00 to $20.00. BMO Capital Markets noted, “Though HPQ stock has increased approximately 20% YTD, we still believe investors continue to have a healthy amount of skepticism for the shares. Therefore, any inflection on the positive, regardless of the absolute trends, will likely be greeted with cheers rather than jeers. To be fair, the CFO and FCF were good on both a relative (compared with guidance) and absolute basis.” Hewlett-Packard Company closed on Thursday at $17.10.