Upcoming IR Summit Expected to be a Modest Positive for Hewlett-Packard (HPQ), Jefferies Says

Jefferies analyst James Kisner reiterated a Buy rating and $42 price target on Hewlett-Packard (NYSE: HPQ) saying they expect the upcoming IR Summit is expected to be a modest positive catalyst for the stock.

Kisner commented, "On Wednesday, June 3 after the close, HP will be holding an IR Summit at its annual HP Discover customer conference in Las Vegas. We believe the event could be a modest positive catalyst as the company helps investors gain confidence that FY15 is alow point for cash flow generation and as general uncertainty around the split wanes. Below we highlight our focus issues for HPQ entering the event."

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 $33.88 yesterday.

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