"Bank of America Gives HPQ Stock Double Upgrade, Sparks Alert"

1 min read
Source: InvestorPlace
"Bank of America Gives HPQ Stock Double Upgrade, Sparks Alert"
Photo: InvestorPlace
TL;DR Summary

HPQ stock received a double upgrade from Bank of America analyst Wamsi Mohan, who upgraded the stock from "underperform" to "buy" and raised the price target from $25 to $33 per share. This represents a potential 28% upside for the stock over the next 12 months. The upgrade is based on positive factors such as an improving PC market, improved profitability, and stable to higher free cash flow. However, investors should note that Warren Buffett has been selling shares of HPQ, reducing his stake in the company to 10.2%. HPQ stock is up 2.3% following the upgrade.

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