Hewlett-Packard Upgraded to “Outperform” at JMP Securities (HPQ)

in dividend Gold Gold Investing Gold Investment outperform shares upgrade by admin — September 2, 2010 5:55 am | no comments

PC and printer maker Hewlett-Packard Company ( HPQ ) on Thursday caught an upgrade from analysts at JMP Securities. The firm boosted its rating on HPQ from “Market Perform” to “Outperform.” JMP also set a $50 price target on H-P shares, which represents a potential 28% upside to the stock’s Wednesday closing price of $39.21. Hewlett-Packard shares rose 30 cents, or +0.8%, in premarket trading Thursday. The Bottom Line We had removed shares of HPQ from our recommended list back on Oct.1, 2009, when the stock was trading at $47.21. The company has a .82% dividend yield, based on last night’s closing stock price of $39.21. The stock has technical support in the $35 price area. If the shares can firm up, we see overhead resistance around the $44-$46 price levels. We would remain on the sidelines for now. Hewlett-Packard Company ( HPQ ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .