Market Overview

UPDATE: Deutsche Bank Reiterates Sell Rating, Lowers PT on Hewlett-Packard Company on EPS

Related HPQ
Citi Raises Price Target On Hewlett-Packard
Citigroup Out In Defense Of The PC Market
Energy Sector Seen as Biggest Risk to Deal Flow in 2015 (Fox Business)

In a report published Friday, Deutsche Bank reiterated its Sell rating on Hewlett-Packard Company (NYSE: HPQ), but raised its price target from $10.00 to $12.00.

Deutsche Bank noted, “Better than feared; but broad-based erosion continues. HP reported non-GAAP EPS of $0.82 on revs of $28.4B (vs. DB at $28.3B/ $0.71; Street at $27.9B/ $0.71). GMs of 22.3% and OMs of 7.9% were better than expected (DB at GMs of 21.0% and OMs of 7.0%) on the back of better printing margins, slower than expected Services contract losses and restructuring benefits. We remain cautious on HP's weak fundamentals, share loss, ongoing revenue erosion and challenging macro conditions. However, we raise our PT to $12 to reflect the improved balance sheet; maintain Sell”

Hewlett-Packard Company closed on Thursday at $17.10.

Latest Ratings for HPQ

DateFirmActionFromTo
Dec 2014CitigroupMaintainsBuy
Dec 2014Bank of AmericaReinstatesBuy
Oct 2014JefferiesInitiates Coverage onHold

View More Analyst Ratings for HPQ
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (HPQ)

Around the Web, We're Loving...

Get Benzinga's Newsletters