Equity Insights May 24th: Hewlett-Packard, Pandora, NetApp
Hewlett-Packard Company (NYSE:HPQ): Hewlett-Packard price target lowered to $27 from $31 at BofA/Merrill. Deutsche Bank said it remains cautious on Hewlett-Packard’s weak fundamentals following the company’s Q2 results. The firm keeps a Sell rating on the stock, citing challenging macro conditions and HP’s deteriorating cash flow.
Pandora Media Inc (NYSE:P): After Pandora reported stronger than expected Q1 results, BMO Capital believes that the company is poised to increase its revenue further. The firm continues to believe that the company is poised to benefit from market share gains and it reiterates an Outperform rating.
NetApp, Inc. (NASDAQ:NTAP): Baird lowered its price target on NetApp following solid Q4 results citing weak Q1 guidance due to economic and political uncertainty. The firm believes the company remains well positioned in its markets and sees weakness as an attractive entry point. Shares remain Outperform rated. BMO Capital reduced its target on NetApp (NASDAQ:NTAP) after the company provided weaker than expected Q1 guidance. The firm maintains an Outperform rating on NetApp, but strongly prefers EMC (NYSE:EMC) over NetApp.
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