This morning, Citigroup upgraded shares of Hewlett-Packard (NYSE:HPQ) from sell to buy as the company is turning the corner with its service division. Additionally, the company is beginning to contain costs better which should trickle down to the bottom line in the second half of 2013. In the report, Citigroup also set a new $32 price target. Shares of HPQ were higher by 2.6% on the news today.
Needham increased its price target on shares of Yahoo! (YHOO) to $28 as a lower tax rate will benefit earnings. In the report, Needham raised its EPS estimates and reiterated its buy rating. Shares of Yahoo! were lower, despite the report, falling 1.3% so far.
And UBS increased its price target on shares of PetSmart (PETM) to $79 noting the stock will provide protection if the markets falter and provide growth potential if the markets continue to rally. In the report, UBS maintained its buy rating. Shares of PetSmart were higher by 0.8% on Wednesday.
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