Mizuho Securities Remains Neutral on Hewlett-Packard (HPQ) Following Analyst Day

Mizuho Securities maintained a Neutral rating and $30.00 price target on Hewlett-Packard (NYSE: HPQ) following the company's analyst day. Analyst Abhey Lamba said that although HP Inc. will likely remain a capital return story, HP Enterprise will likely be operated like a growth company.

Lamba commented, "We are maintaining Neutral rating and $30 PT as we process the company's additional disclosures regarding the spin-off. The analyst day was inline with expectations where management outlined its strategies for both companies post the spin-off. Although HP Inc. will likely remain a capital return story, HP Enterprise will likely be operated like a growth company. We think services remains the wild card for the enterprise segment with stock performance likely tied to its transformation. We think risks associated with the spin-off will weigh on the stock while low valuation could offer support."

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 $11.33 yesterday.

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