Why Are HP (HPQ) Shares Soaring Today

Shares of personal computing and printing company HP (NYSE:HPQ) jumped 8.2% in the morning session after RBC Capital analyst David Paige initiated coverage on the company with a Sector Perform rating. According to StreetInsider, a Sector Perform rating typically indicates an expectation that the equity will perform roughly in line with the broader sector or market benchmarks over the medium term. Initiations of coverage by major investment banks often generate fresh market visibility and trading