Short-Term Price Target Update: Hewlett-Packard Company (NYSE:HPQ)

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During Friday’s afternoon trade, Shares of Hewlett-Packard Company (NYSE:HPQ), dropped 1.46% to $26.97. The firm opened its current trade at $27.12. The total volume traded for the day is 18.42M shares, as compared to its average daily volume of 14.37M shares. The stock is floating in a range of $26.72 $27.39. The stocks hold the market capitalization of $48.80B. According to news report, Hewlett-Packard was an early pioneer of what became the model for Silicon Valley startups: Founded in 1939 by two Stanford graduates in a Palo Alto, California, garage, HP was long celebrated for its engineering know-how and laid-back corporate culture. It made hefty profits as it grew into a multinational giant that sold a wide range of computer gear and commercial tech services. HP Inc. will sell personal computers and printers; Hewlett Packard Enterprise will sell commercial computer systems, software and tech services. Starting Monday, each will trade separately on the New York Stock Exchange. HPs current chief executive, who pushed for the split, says the new spinoffs will be more nimble. CEO Meg Whitman will run HP Enterprise, while PC industry veteran Dion Weisler will lead HP Inc. Each will be independent, with flexibility to respond to a constantly evolving market, Whitman told an investor conference last month. With less to focus on, she added, each company will do core things better., AP Report

HP recently said its giving up on competing directly in cloud computing, a growing business in which companies large and small run software in remote data centers operated by Amazon and others.

Short-Term Price Target Update: The mean estimate for the short-term price target for the firm stands at $34.85, according to 23 brokers. The higher price target for HPQ is $45.00, while the lower price target is $14.00. In the past 52-weeks, the company shares have declined -22.79% and marked new low $24.30 on Sep 29, 2015.

Hewlett-Packard Company, together with its auxiliaries, provides products, technologies, software, solutions, and services to individual consumers and small- and medium-sized businesses (SMBs), in addition to to the government, health, and education sectors worldwide.

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