(HPQ) 30Jan04- Reit Outperform HP is reporting 1QF04 results (January) on Thursday, Feb. 19. We are increasing 1QF04 revenues by $1 billion to $20.5 billion (14.5% year over year, $19.4 billion Street). The increase is primarily driven by consumer PCs and printers. We are increasing 1QF04 by a penny to $0.37 (17% year over year, $0.35 Street). Revenue upside will be somewhat mitigated on the bottom line due to likely revenue mix shift. We are increasing our price target to $30 from $28.
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