In a report published Tuesday, Morgan Stanley analyst Katy L. Huberty reiterated an Overweight rating and $40.00 price target on Hewlett-Packard Company HPQ.
In the report, Morgan Stanley noted, “The plan to split into two companies sharpens focus on significant valuation discount even post the last two years of outperformance and affords a more efficient capital allocation. We view disruption risk as much more muted compared to 2011 given several structural changes under Meg Whitman's leadership.”
Hewlett-Packard Company closed on Monday at $36.87.
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