An upgrade to Overweight from Morgan Stanley's Katy Huberty leads H-P (HPQ +2.7%) to touch...

|About: HP Inc. (HPQ)|By:, SA News Editor

An upgrade to Overweight from Morgan Stanley's Katy Huberty leads H-P (HPQ +2.7%) to touch levels last seen in spring 2012. Huberty praises Meg Whitman for getting execs to "consider free cash flow implications" for their moves (as compared with a traditional focus on revenue/EPS), and thinks lower capex and an improved cash conversion cycle could lead to $3.45/share in annual free cash flow, $1/share better than what management has been forecasting. H-P has now roughly doubled from its Nov. '12 low.