Market Overview

UPDATE: Barclays Upgrades Hewlett-Packard

Share:
Related HPQ
10 Notable Stocks Trading Ex-Dividend Monday, December 12
Here's Every Rating And Price Target So Far On HP Inc After Q4 Earnings
Backtesting 101, Part 4: Frictional Costs, To Hedge Or Not To Hedge, And Benchmarks (Seeking Alpha)

On Tuesday, Barclays upgraded shares of Hewlett-Packard (NYSE: HPQ) from Equalweight to Overweight and raised the price target from $33 to $38.

Analyst Ben Reitzes believes the company could “gain share for several quarters in x86 servers at the expense of IBM/Lenovo, which could also help support sales of 3PAR storage gear.”

Reitzes compares Hewlett-Packard's 2014 potential earnings per share upside, should HP “win share in the x86 market,” to the boost Lenovo received after bought out IBM's PC business in 2005.

The analyst also notes Hewlett-Packard's free cash flow recovery and believes the company is “well positioned for growing buybacks and dividends as it returns ‘at least' 50% of free cash flow to shareholders.”

Shares of Hewlett-Packard are up two percent to $30.09. The stock has had trouble getting through the $30 figure during the past few months.

Latest Ratings for HPQ

DateFirmActionFromTo
Nov 2016BMO CapitalMaintainsMarket Perform
Oct 2016BarclaysMaintainsEqual-Weight
Oct 2016CitigroupMaintainsNeutral

View More Analyst Ratings for HPQ
View the Latest Analyst Ratings

Posted-In: Barclays Ben ReitzesAnalyst Color Analyst Ratings

 

Related Articles (HPQ)

View Comments and Join the Discussion!