NEW YORK (TheStreet) -- UBS increased its target price on Hewlett-Packard  to $32.50, increased its estimates through 2016 and set a "neutral" rating. The firm noted improved execution increased PC and x86 server sales, while cost cutting should benefit by 50 cents this year. The stock was up 0.7% to $30.40 in pre-market activity on Friday. Must Read: Day Ahead: H-P's Pleasant Surprise ---------- Separately, TheStreet Ratings team rates HEWLETT-PACKARD CO as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: "We rate HEWLETT-PACKARD CO (HPQ) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins." Highlights from the analysis by TheStreet Ratings Team goes as follows: Powered by its strong earnings growth of 120.91% and other important driving factors, this stock has surged by 75.36% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, HPQ should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year. HEWLETT-PACKARD CO reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, HEWLETT-PACKARD CO turned its bottom line around by earning $2.62 versus -$6.45 in the prior year. This year, the market expects an improvement in earnings ($3.67 versus $2.62). The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Computers & Peripherals industry. The net income increased by 120.6% when compared to the same quarter one year prior, rising from -$6,854.00 million to $1,414.00 million. The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Computers & Peripherals industry and the overall market on the basis of return on equity, HEWLETT-PACKARD CO has underperformed in comparison with the industry average, but has exceeded that of the S&P 500. You can view the full analysis from the report here: HPQ Ratings Report