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.