Market Overview

Wells Fargo Sees Strength In Hewlett-Packard, Driven By IT & Printing Demand

Share:
Related HPQ
15 Biggest Mid-Day Gainers For Thursday
IBM Kicks Off The Big Tech Earnings Season
HP rises after UBS upgrade (Seeking Alpha)

In a report issued on Monday, Wells Fargo previewed Hewlett-Packard Company (NYSE: HPQ) for the 2015 fiscal year. Wells Fargo rates Hewlett-Packard as Outperform with a price target range of $46.00-$49.00.

Analysts at Wells Fargo wrote, "We expect PC share gains in particular, as well as strength in transactional year-end IT demand (servers) and solid printing demand to drive revenue. Transactional strength may also help cash flow and we continue to believe there is scope for upside potential to management's FY guidance of $6.5-$7.0 Billion."

In the report, Wells Fargo discussed three reasons why they believe Hewlett-Packard is attractively valued:

  1. Potential expansion from the bottoming of legacy businesses.
  2. Increased shareholder value due to their upcoming corporate split.
  3. Laser printing strength driven by color and multi-function printers and managed printer service along with recent struggles in rival Lenovo Group Limited.

Shares of Hewlett-Packard recently traded at $38.11, down 0.73 percent.

Latest Ratings for HPQ

DateFirmActionFromTo
Jan 2017UBSUpgradesNeutralBuy
Jan 2017GuggenheimInitiates Coverage OnNeutral
Nov 2016BMO CapitalMaintainsMarket Perform

View More Analyst Ratings for HPQ
View the Latest Analyst Ratings

Posted-In: Wells FargoAnalyst Color Analyst Ratings

 

Related Articles (HPQ)

View Comments and Join the Discussion!