Analysts: HP Turnaround Remains Intact and 3 More Research Notes to Review

Hewlett-Packard (NYSE:HPQ): Citigroup believes that HP’s turnaround story remains intact following the company’s largely in-line third-quarter results but says that shares may pull back in the near term after a conference call unveiled several challenges. The firm views HP’s October 9 Investor Day as the next catalyst for the stock and reiterates a Buy rating on the name with a $32 price target.


Canadian Pacific (NYSE:CP): Credit Suisse has upgraded Canadian Pacific to Outperform from Neutral based on under-appreciated revenue opportunities that include evolving supply chain logistics in North American energy markets, pricing gains, and new revenue streams. The firm views valuation as compelling and raised its price target to $144 from $139.


J.C. Penney (NYSE:JCP): UBS has lowered J.C. Penney estimates to reflect a lowered sales outlook and year-end liquidity guidance that implies a very cautious holiday outlook. The firm continues to believe a dilutive capital raise will be necessary and reiterates its Sell rating and $10 price target.


Target (NYSE:TGT): William Blair has downgraded Target to Underperform, citing the underperformance of the Canada stores and the erosion of competitive advantages at the company’s domestic retail business.


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