UBS Upgrades Hewlett-Packard (HPQ) to Neutral

February 22, 2013 6:56 AM EST Send to a Friend
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Price: $39.90 +0.20%

Rating Summary:
    19 Buy, 15 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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UBS upgraded Hewlett-Packard (NYSE: HPQ) from Sell to Neutral and raised their price target from $12 to $19 following Q1 results.

The firm comments, "We are upgrading HP to Neutral with a price target of $19 per share. Although the fundamentals remain mixed, the substantial improvement in free cash flow reduces the likelihood of significant downside to the stock. Free cash flow of $2.1bn in F1Q suggests the $5bn guidance for the year will likely prove low, so HP can achieve zero net debt in F2014 and then potentially return more cash to shareholders."

For an analyst ratings summary and ratings history on Hewlett-Packard click here. For more ratings news on Hewlett-Packard click here.

Shares of Hewlett-Packard closed at $17.10 yesterday.


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