BMO Capital Maintains a 'Market Perform' on Hewlett-Packard (HPQ); Very Good Quarter, Relative to Low Expectations

BMO Capital maintains a 'Market Perform' on Hewlett-Packard (NYSE: HPQ) price target of $27.00.

Analyst, Keith Bachman, said, "We remain MARKET PERFORM on HPQ, though we come away from the quarter believing that a major restructuring story like HP may have better stock performance over the next few quarters, as compared with other revenue-dependant stories. More specifically, we prefer HPQ over Dell (Nasdaq: DELL) (rated MARKET PERFORM), since we think Dell's positive mix impact to revenue growth and margins will take too long to play out, whereas HP's restructuring will likely help the stock over the next few quarters, despite weak revenues." (Raises FY13 EPS estimate from $4.20 to $4.25)

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 $21.08 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
• McGraw Hill (MH) PT Raised to $15 at UBS
• Freedom Broker Upgrades Serve Robotics (SERV) to Buy