In a report published Thursday, Credit Suisse analyst Kulbinder Garcha reiterated a Neutral rating and $35.00 price target on Hewlett-Packard Company HPQ.
In the report, Credit Suisse noted, “Quarter as expected – solid PCs and FCF amid uncertain seculars. In F3Q14, HP's business posted disparate results. Revenue topped our and Street estimates on PC strength, returning the company to growth. While EPS was in line with consensus, FCF was healthy at $2.7bn, growing 34% from year ago levels. Nevertheless, secular headwinds remain evident across HP segments as Printing, Enterprise Services and Software declined. We modestly adjust our FY14/15 EPS estimates to $3.74/$3.83.”
Hewlett-Packard Company closed on Wednesday at $35.12.
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