Citigroup Lowers Price Target for Hewlett-Packard (HPQ)
Analysts at Citigroup cut the price target for tech company Hewlett-Packard Company (HPQ) on Wednesday.
The analysts now value HPQ at $10.50, a -10% downside from Tuesday’s closing price of $11.61. Citigroup also cut estimates for the tech company following the startling fourth quarter report on Tuesday and expected struggles in growth in the future.
Hewlett-Packard shares were up 2 cents, or +0.17%, in premarket trading on Wednesday. HP stock is down -54.54% year-to-date.
The Bottom Line
Shares of Hewlett-Packard (HPQ) have a 4.53% dividend yield, based on last night’s closing stock price of $11.71. The stock has technical support in the $10.00-$11.50 price area. If the shares can firm up, we see overhead resistance around the $13-$15 price levels.
Hewlett-Packard Company (HPQ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.8 out of 5 stars.
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