Noting a new growth strategy and margin expansion under CEO Leo Apotheker, UBS Securities...

|By:, SA News Editor

Noting a new growth strategy and margin expansion under CEO Leo Apotheker, UBS Securities upgraded Hewlett-Packard (HPQ) to Buy from Neutral. Given H-P's China investments, and projected increases in maintenance and networking revenues, UBS raised 2011's earnings forecast to $5.24/share from $5.14/share. H-P closed at +1.2%.