UPDATE: BMO Capital Raises PT on Hewlett-Packard Following Detailed Analysis

In a report published Wednesday, BMO Capital Markets analyst Keith Bachman reiterated a Market Perform rating on

, and raised the price target from $24.00 to $30.00. In the report, BMO Capital Markets noted, “We offer a detailed analysis of Hewlett Packard's (HP) various business segments, ahead of its quarterly conference call, in terms of both revenue growth and margin potential. In addition, we offer a top-down analysis on the impact of HP's restructuring and the potential profit impact...We believe HP has several levers to improve its operational performance in FY2014. We believe that it can report positive EPS growth in FY2014 even with declining revenues. We model FCF to improve modestly in FY2014 to ~$7.9 billion. For the current quarter, we think HP can deliver revenues modestly above consensus and EPS of $0.88 versus consensus of $0.86.” Hewlett-Packard Company closed on Tuesday at $25.84.