Analysts: HP Is a Sell Despite Quarterly Results
Hewlett-Packard (NYSE:HPQ): Despite a solid quarter, Goldman Sachs remains cautious on shares of HP, as it believes its restructuring driven earnings and cash flow recovery is unsustainable. Goldman keeps a Sell rating, urged by exposure to distressed end markets, years of underinvestment, and overly aggressive cost cutting measures. The firm did raise its price target, from $16 to $17.
Pacific Sunwear (NASDAQ:PSUN): Following stronger than expected Q1 results, DA Davidson has raised its price target to better reflect its belief that the shares can advance as the company shows signs of returning to profitability. It keeps a Buy rating on the name, and a price target of $4.25, up from $3.50.
DuPont (NYSE:DD): BCG Partners is apparently not impressed with DuPont, as it has downgraded its shares to sell — after a downgrade to Hold on May 3 — and set the price target at $50.
JPMorgan Chase (NYSE:JPM): RW Baird sees JPMorgan as being one of the few compelling bank ideas, and finds its shares compelling at current levels. Multiple expansions have outpaced fundamentals in the sector and suggests avoiding spread revenue-based lenders according to the firm, which rates the shares at Outperform with a $57 price target.
Investing Insights: Does Oracle Support a Move Higher?