UPDATE: Morgan Stanley Reiterates On Hewlett-Packard On Return To Revenue Growth

In a report published Thursday, Morgan Stanley analyst Katy L. Huberty reiterated an Overweight rating on Hewlett-Packard Company (NYSE: HPQ), and raised the price target from $36.00 to $40.00.

In the report, Morgan Stanley noted, “First quarter of revenue growth in 2.5 years. HP reported 1.3% revenue growth on the back of strong PC, industry standard server,and networking results.We view growth in these categories as sustainable medium-term with the possibility for further tailwinds from printers (post supplies inventory drawdown), software(post go-to-market restructuring) and enterprise services (post account run-off) in FY15.”

Hewlett-Packard Company closed on Wednesday at $35.12.