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Thursday, August 23, 2012

Not enough cutting of HPQ over year targets today.

Next, HPQ is currently sitting on a pre-market deficit of 5.7%, due to its worst loss ever in last night's third-quarter showing. On the heels of this poorly received report, a group of analysts cut their price targets on HPQ. Among them were Barclays ($21 from $22), RBC ($25 from $27), Baird ($22 from $23), Jefferies ($17 from $21), Evercore Partners ($19 from $20), and FBN Securities ($22 from $25). The average 12-month price target for the stock sits at $25.73, which is a 34% premium to Wednesday's closing price of $19.20.

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