FBN Securities reiterated their sector perform rating on shares of Hewlett-Packard (NYSE: HPQ) in a research report sent to investors on Friday morning. The firm currently has a $20.00 price target on the stock.
“According to CEO Whitman, 2012 was a year of diagnosis, 2013 is a fix and rebuild year, and 2014 will be a recovery and expansion year. Revenue declined in all segments except Financial Services Y/Y, and the company has chances of growing in F2014 as Ms. Whitman suggests. However, the company will continue to face challenges from the PC business even in F2014, so we are currently modeling flattish revenue growth next year. We are impressed by the company’s FCF generation ($1.9B) which led to the company reducing its operating net debt level by $1.1B to $4.7B.,” the firm’s analyst wrote.
A number of other analysts have also recently weighed in on HPQ. Analysts at Zacks reiterated a neutral rating on shares of Hewlett-Packard in a research note to investors on Thursday, February 28th. They now have a $21.00 price target on the stock. Separately, analysts at TheStreet reiterated a sell rating on shares of Hewlett-Packard in a research note to investors on Thursday, February 28th. Finally, analysts at Jefferies & Co. raised their price target on shares of Hewlett-Packard from $10.00 to $13.50 in a research note to investors on Friday, February 22nd. They now have an underperform rating on the stock.
Hewlett-Packard traded up 2.85% on Friday, hitting $20.5399. Hewlett-Packard has a 52-week low of $11.35 and a 52-week high of $25.40. The stock’s 50-day moving average is currently $17.42. The company’s market cap is $40.114 billion.
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