Analyst Upgrades: Twitter, Hewlett-Packard, JCPenney

Analysts upwardly revised their ratings on Twitter Inc (TWTR), Hewlett-Packard Company (HPQ), and J C Penney Company Inc (JCP)

Apr 1, 2015 at 9:06 AM

Analysts are weighing in today on microblogging platform Twitter Inc (NYSE:TWTR), computer hardware firm Hewlett-Packard Company (NYSE:HPQ), and department store operator J C Penney Company Inc (NYSE:JCP). Here's a quick roundup of today's bullish brokerage notes on TWTR, HPQ, and JCP.

TWTR is pointed 1.8% higher in electronic trading, after Jefferies initiated coverage of the stock with a "buy" rating and $65 price target. The positive attention is well-deserved, considering the shares have advanced nearly 40% year-to-date to trade at $50.08. Also, Twitter Inc got a boost yesterday amid chatter Google Inc (NASDAQ:GOOGL) may invest in the company. Despite these encouraging signs, the brokerage bunch remains mixed toward TWTR. Twelve of 26 covering analysts have doled out "hold" or worse opinions, and the equity's consensus 12-month price target is $53.83 -- a slim 7.5% premium to Tuesday's close. In other words, TWTR could be on the verge of additional positive analyst attention.

HPQ is 1.3% higher ahead of the bell, following an upgrade to "buy" and price-target hike to $41 from $37 at Jefferies. This follows yesterday's news that the computer company has become embroiled in overseas litigation, surrounding its 2011 purchase of Autonomy. On the charts, Hewlett-Packard Company has struggled in 2015, retreating more than 22% to perch at $31.16, and hitting an annual low of $31.03 last Friday. Meanwhile, the brokerage crowd is divided over the long-term underperformer. Half of the analysts tracking the shares have given them a "buy" or better evaluation, while the other half have assigned "hold" or worse ratings.

Finally, JCP is up 1% in pre-market trading, after J.P. Morgan Securities lifted its price target on the stock to $10 from $8, but maintained its "neutral" opinion. This comes on the heels of yesterday's huge session in which J C Penney Company Inc soared 7.4%, following a price-target hike at Piper Jaffray. The shares are now nearly 30% higher year-to-date, sitting at $8.41. Consequently, short sellers may be feeling the heat. Nearly one-third of JCP's float is sold short, which represents more than seven sessions' worth of trading, at typical daily volumes.

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