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(Reuters) – Hewlett-Packard Co (NYSE:HPQ)
is expected to unveil a plan that emphasizes software over
hardware in a move that could send its shares significantly
higher, according to a report in Barron’s financial newspaper.

HP, which has lagged behind rivals in the software
business, is likely to increase its software holdings through
acquisitions, according to the report.

Cowen and Co analyst Peter Goldmacher suggested that HP
should buy Red Hat Inc (NYSE:RHT), which sells open-source Linux
products and has a market value of $7.8 billion.

Other potential HP takeover targets cited in the article
include Symantec Corp (NASDAQ:SYMC), Teradata Corp (NYSE:TDC),
Informatica Corp (NASDAQ:INFA), BMC Software Inc (NASDAQ:BMC),
CommVault Systems Inc (NASDAQ:CVLT) and Tibco Software Inc

If new HP Chief Executive Leon Apotheker can successfully
implement the software plan, Barron’s said in its March 14
edition, its shares could reach the $60s range in a year.

HP’s shares closed at $41.73 on the New York Stock Exchange
on Friday.
(Reporting by Bill Berkrot, editing by Maureen Bavdek)