Credit Suisse Lowers PC Numbers for Hewlett-Packard Company - HP (NYSE:HPQ)

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In a report published Monday, Credit Suisse analyst Kulbinder Garcha reiterated an Outperform rating and $45.00 price target on

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Hewlett-Packard Company

(NYSE: HPQ).In the report, Credit Suisse noted, "We reduce HP's PC numbers to reflect weaker than expected CY2015 global PC forecasts. This lowers our EPS by $0.02 for both FY15/FY16 to $3.61/$3.79 from $3.63/$3.81. That said, given stabilizing operations, scope for more predictable cash distribution, conservative guidance and steep undervaluation, we reiterate our rating of Outperform and our TP of $45."Hewlett-Packard Company closed on Friday at $32.43.