Story updated at 9:55 a.m. to reflect market activity.
Hewlett-Packard gained 4.3% to $33.16 in morning trading.
Credit Suisse raised its price target for HP to $35 and raised its EPS estimates for the PC maker. The firm cited the company's solid earnings and free cash flow momentum as reasons for the raised numbers. Credit Suisse maintained a "neutral" rating for the stock.
UBS raised its price target for Hewlett-Packard to $34 from $32.50 while maintaining a "neutral" rating for the stock. The firm said FCF estimates rise with restructuring savings.
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Separately, TheStreet Ratings team rates HEWLETT-PACKARD CO as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HEWLETT-PACKARD CO (HPQ) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and attractive valuation levels. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."