Wells Fargo Securities Raises Valuation Range For Hewlett-Packard
In a report published Tuesday, Wells Fargo Securities analyst Maynard Um reiterated an Outperform rating on Hewlett-Packard (NYSE: HPQ).
In the report, Wells Fargo Securities noted, “We believe HP will likely deliver FY14 net income and free cash flow growth even absent revenue growth. While some secular headwinds persist, we believe several catalysts such as new products, mix shift benefit to margins and potential activism/divestitures/M&A could drive multiple expansion.”
Hewlett-Packard closed on Monday at $33.11.
Latest Ratings for HPQ
|Nov 2015||Credit Suisse||Maintains||Outperform|
|Nov 2015||Maxim Group||Upgrades||Hold||Buy|
|Nov 2015||Brean Capital||Initiates Coverage on||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.