Following the raising of HP's prices by JP Morgan Securities and UBS, other brokers are following suit in recomputing the value of the tech company's stock. This is in light of the eleven percent increase in share stock performance after the company's performance exceeded previous projections.
Among the other firms that followed suit are Jefferies and Co., RBC Capital Markets, Evercore Partners, BMO Capital Markets and Credit Suisse. These brokerage firms increased their valuations by an average of US$4.19.
On the other hand, other investors and capitalists, such as Deutsche Bank did not raise share prices but improved the earnings outlook of the company. Chris Whitmore of the German finance giant rated HP as a 'sell' share and cited continuing losses in revenue as well as the weak economy for rating HP shares at US$12.
For its part, HP generated over seventeen percent of its revenue in the second quarter from sales of hardware such as printers, copiers and other related services.
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