Zacks Investment Research upgraded shares of Hewlett-Packard Company (HPQ) from NEUTRAL to OUTPERFORM on April 05, 2013, with a target price of $27.00.
Hewlett-Packard is one of the world's largest computing and technology companies. Its first-quarter 2013 earnings exceeded the Zacks Consensus Estimate, but revenues declined from the year-ago period. Results were moderately impacted by macroeconomic factors and a downturn in the PC business. The new product rollout and improvement in mobile computing and tablets businesses were mitigating factors. Management initiatives to control costs, drive growth in higher-margin segments and improve the health of its balance sheet are other positives. We therefore upgrade HP from Neutral to Outperform.
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