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A two-notch upgrade to Buy from Sell at Citi has shares of Hewlett-Packard (HPQ) up 3%...

A two-notch upgrade to Buy from Sell at Citi has shares of Hewlett-Packard (HPQ) up 3% premarket. The Street may be "underestimating the financial benefits" of H2-loaded cost savings, the bank says, adding that EPS revisions are "now likely to start increasing in 2014 for the first time in nine quarters." Brean Capital's Ananda Baruah was out with an upgrade Tuesday, saying HPQ "can continue to move higher [on] strengthened cash flow, cost savings, and product mix."
Comments (7)
  • wapiti
    , contributor
    Comments (698) | Send Message
    Folks, FYI....Citi initiated $HPQ with a Sell @$14 in October. Today @ $25 it's a BUY Thanks for the help Citi. However, almost all analysts are just as bad.....Buy high....sell lower
    10 Jul 2013, 08:42 AM Reply Like
  • dctodd27
    , contributor
    Comments (115) | Send Message
    Was just looking for that info - thanks for the insight
    10 Jul 2013, 08:54 AM Reply Like
  • PeaPod612
    , contributor
    Comments (26) | Send Message
    If the analyst were just throwing in the towel on their "sell" call, then they would have upgraded from sell to "hold", not from sell to "buy", and they would have done it on the Wednesday before Fourth of July, or the Friday after Fourth of July, not today.
    The citi analyst has read some positive body language, and or verbal inferences, from management at HP to arrive at their conclusions about cost reduction and in turn earnings upside.
    I know how this process works (I lived it for decades).
    10 Jul 2013, 08:58 AM Reply Like
  • wapiti
    , contributor
    Comments (698) | Send Message
    Well I guess you too waited for all the good news to be priced into the stock for to put a buy on it? I've been managing $$ for over 30 years and it has always been like this. Analysts are spoon fed number crunchers who are dependent on management to tell them everything. Same guys recommending ISRG @ $600 they sell it at $400. Not one guy goes against the crowd for fear of looking bad and losing his job. Like sheep...they would rather be wrong with the crowd
    10 Jul 2013, 09:11 AM Reply Like
  • WillsB
    , contributor
    Comments (5) | Send Message
    Did Citi initiate a sell so that they could whisper to their private clients to buy those shares cheap. Now they yell "buy" so that they can sell after a 100% runup. Has anything ever changed?
    10 Jul 2013, 11:47 AM Reply Like
  • losaneglee
    , contributor
    Comments (38) | Send Message
    he's saying services are more than compensating for the decline in pc's. no other stock earning 3.6 trades this low
    10 Jul 2013, 02:12 PM Reply Like
  • wapiti
    , contributor
    Comments (698) | Send Message
    "He should have thought about the future outlook not the present... Hindsight is always 20-20
    10 Jul 2013, 02:22 PM Reply Like
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