Citi Sees Real Turnaround At Hewlett-Packard

Citigroup Inc. (NYSE:C) anticipates a turnaround at Hewlett-Packard Company (NYSE:HPQ) and hence maintains its Buy rating with a target price of $32.

Jim Suva and the team at Citi Research feel despite experiencing a trough in its earnings during FY 13, Hewlett-Packard can generate earnings growth on the back of restructuring.

Fiscal 2014 will be a pivotal year

Last week, Hewlett-Packard Company (NYSE:HPQ)’s chief executive officer, Merg Whitman exuded confidence, stating the company’s revenue will stabilize next year with pockets of growth besides extending its growth until 2015. During last week’s annual investor briefing, the CEO indicated fiscal 2014...