Hewlett-Packard core businesses remain challenged, says Citigroup

theflyonthewall.com

Citigroup said Hewlett-Packard's quarter was better than feared, but notes shares moved off after-hours highs when investors learned on the conference call that a meaningful portion of the upside in the quarter was driven by a delay in service contract losses, which will occur in the second half of 2013. Citi raised its price target for HP shares to $12 from $10.50, but believes the company's core businesses remain challenged. Citi keeps a Sell rating on the stock.

Rates

View Comments (0)

Recommended for You