Zacks reaffirmed their neutral rating on shares of Hewlett-Packard (NYSE: HPQ) in a research note released on Thursday morning. They currently have a $21.00 price target on the stock.
Zacks’ analyst wrote, “Hewlett-Packard’s first-quarter 2013 earnings exceeded the Zacks Consensus Estimate, but revenues declined from the year-ago period. Results were negatively impacted by macroeconomic factors, lower order renewal, and reduction in business fundamentals in some segments. The company is taking major steps to revive some of its businesses. Management is taking steps to manage costs, drive growth and improve the health of its balance sheet. Further, the PC business is affected to a considerable extent and is taking a toll on the company’s business. This apart, the printer business looks challenging, given the continuous roll out of printing devices at competitive prices. “
Shares of Hewlett-Packard opened at 20.15 on Thursday. Hewlett-Packard has a one year low of $11.35 and a one year high of $25.40. The stock’s 50-day moving average is currently $17.31. The company’s market cap is $39.353 billion.
HPQ has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a sell rating on shares of Hewlett-Packard in a research note to investors on Thursday. Separately, analysts at Jefferies & Co. raised their price target on shares of Hewlett-Packard from $10.00 to $13.50 in a research note to investors on Friday, February 22nd. They now have an underperform rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of Hewlett-Packard from $11.00 to $15.00 in a research note to investors on Friday, February 22nd. They now have an underweight rating on the stock.
Two equities research analysts have rated the stock with a buy rating, one has issued an overweight rating, twenty-two have assigned a hold rating, three have given an underweight rating, and five have assigned a sell rating to the stock. The stock has an average rating of hold and a consensus target price of $17.62.
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