Sterne Agee Raising PT & Estimates on Hewlett-Packard (HPQ); Surprisingly Strong Quarter
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Price: $27.62 -0.25%
Rating Summary:
16 Buy, 20 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
16 Buy, 20 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Sterne Agee maintains a 'Buy' on Hewlett-Packard (NYSE: HPQ) price target raised from $31 to $33.
Analyst, Shaw Wu, said, "HPQ reported a big April quarter upside. This was surprising in light of weak results from Dell (Nasdaq: DELL)(Neutral) and Cisco (Nasdaq: CSCO)(Buy). The key takeaway is that HPQ's turnaround efforts appear to be progressing better than expected and the company is arguably better positioned with its smaller 31% exposure to PCs. Company guided its July quarter lower but its bigger than expected restructuring enables FY12 EPS upside."
Wu raises FY12 EPS estimate from $4.00 to $4.05, upping revenues from $120.9 bln to $122.8 bln. FY13 from $4.35 to $4.40 and revs from $123.6 bln to $124.4 bln.
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.
Analyst, Shaw Wu, said, "HPQ reported a big April quarter upside. This was surprising in light of weak results from Dell (Nasdaq: DELL)(Neutral) and Cisco (Nasdaq: CSCO)(Buy). The key takeaway is that HPQ's turnaround efforts appear to be progressing better than expected and the company is arguably better positioned with its smaller 31% exposure to PCs. Company guided its July quarter lower but its bigger than expected restructuring enables FY12 EPS upside."
Wu raises FY12 EPS estimate from $4.00 to $4.05, upping revenues from $120.9 bln to $122.8 bln. FY13 from $4.35 to $4.40 and revs from $123.6 bln to $124.4 bln.
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.
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