Dice with pencil on graph paper
Markets

Citigroup Reiterates “Buy” Rating on Hewlett-Packard (HPQ)

PC and printer maker Hewlett-Packard Company ( HPQ ) on Tuesday saw its "Buy" rating reiterated by analysts at Citigroup.

The frim also backed its $65 price target on HPQ, which suggests a massive 57% upside to the stock's Monday closing price of $41.49.

Citi said it feels HPQ is "significantly undervalued" at current levels, noting possible upside in second quarter guidance could be a near-term catalyst for the stock. The analyst came to the defense of the stock following the company's 50% dividend raise last night .

Hewlett-Packard shares fell 97 cents, or -2.3%, in premarket trading Tuesday.

The Bottom Line

Shares of Hewlett Packard ( HPQ ) have a 1.16% dividend yield, based on the higher dividend payout and last night's closing stock price of $41.43. The stock has technical support in the $38 price area. If the shares can firm up, we see overhead resistance around the $44 price level.

Hewlett-Packard Company ( HPQ ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

HPQ

Other Topics

Stocks

Latest Markets Videos