Can Recent Positive News Offer HP a Boost?
With shares of Hewlett-Packard (NYSE:HPQ) trading around $22, is HPQ an OUTPERFORM, WAIT AND SEE, or STAY AWAY? Let’s analyze the stock with the relevant sections of our CHEAT SHEET investing framework:
T = Trends for a Stock’s Movement
Hewlett-Packard provides products, technologies, software, solutions, and services to individual consumers, small and medium businesses, and large enterprises worldwide. The company offers commercial notebooks and desktops, consumer notebooks, desktops, software, and services for the commercial and consumer markets. The services segment provides consulting, outsourcing, and technology services to infrastructure, applications, and business process domains. The diverse technological products and services offered by Hewlett-Packard make it a leading provider that sees increased demand through global expansion.
Wells Fargo (NYSE:WFC) believes Hewlett-Packard’s outlook is positive, noting that HP provided a full-year 2014 earnings per share guidance range with a higher-than-expected midpoint. Wells Fargo believes Hewlett-Packard’s turnaround is progressing steadily, while its profits should grow following the 2014 fiscal year; the firm keeps an Outperform rating on the stock.