Chief Executive Meg Whitman said on Thursday that HP's turnaround plan remained on track and the raised target on job cuts reflected how the company continued to find areas to streamline operations across its broad portfolio. The company had set a job cuts target of 27,000 when it started its restructuring in 2012, but increased it to 34,000 last year and then to 50,000 on Thursday. He raised his price target on the stock to $38 from $35. The company said on a post-earnings conference call on Thursday that it expected to exceed its free cash flow target of $6.0 billion-$6.5 billion for the year ending October.
via Business News - Yahoo Finance http://ift.tt/1jDGzaT
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