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Hewlett-Packard upgraded to Buy from Sell at Citigroup

Citigroup upgraded Hewlett-Packard two notches to Buy from Sell and doubled its price target for shares to $32 from $16 after its survey indicated a positive inflection point for the company's services. Further, Citi notes most of HP's cost savings will take placed in the second half of 213. Recall HP shares were upgraded yesterday at Brean Capital.