Hewlett Packard (HPQ) will gain from IBM’s (IBM) sale of its x86 server business to China-based Lenovo, says Barclays, which on Tuesday upgraded HP to overweight from neutral. Barclays analyst Ben Reitzes raised his price target on HP stock to 38 from 33. Hewlett-Packard stock was up more than 3% in early trading in the stock market today, near 30.50. That’s near a 31-month high of 30.71 touched last month. IBM in January agreed to sell its
Hewlett-Packard (HPQ) released results for its first quarter late Thursday that showed the company is making some headway in a companywide restructuring effort launched in May 2012. But the results didn’t appease investors. HP stock was down 1.5% in midday trading in the stock market today. The company’s EPS and revenue came in ahead of analyst estimates. But its earnings outlook for the current quarter was slightly below views, as IBD reported.
Fueled by stronger-than-expected PC sales, Hewlett-Packard on Thursday posted first-quarter results that beat analyst estimates. However, its current-quarter earnings guidance lagged Wall Street expectations. The Q1 results were a positive sign for the global computer products company, which is slogging through a five-year restructuring effort launched in May 2012. Hewlett-Packard (HPQ) is trying to build up its enterprise, software and other