Cantor Fitzgerald Maintains Hold on Hewlett-Packard (HPQ) Following Q2; Sees 'Limited Upside' in HP's stock
Get Alerts HPQ Hot Sheet
Rating Summary:
16 Buy, 20 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Cantor Fitzgerald maintains a Hold rating on Hewlett-Packard (NYSE: HPQ), and cut the price target to $33.00 (from $35.00), following mixed 2Q results. Analyst Brian White said that EPS is poised to fall in FY2015.
White commented on HP, saying, "HP reported 2Q:FY15 results (ended April) that fell short of our estimates, and provided a weak 3Q:FY15 EPS outlook, supporting our cautious view on the company and we are reducing our price target to $33.00 (from $35.00). We found few bright spots in this earnings report with nearly all market segments falling short of our projections and we are cutting our FY:15 EPS estimate accordingly. That said, we continue to believe the separation of HP into two companies makes sense and we like today's announcement around the creation of the "New H3C". Trading at over 9x our CY:16 EPS estimate and in line with historical averages in a difficult IT spending environment with a challenged portfolio, we see limited upside in HP's stock."
For an analyst ratings summary and ratings history on Hewlett-Packard click here. For more ratings news on Hewlett-Packard click here.
Shares of Hewlett-Packard closed at $33.83 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Growth isn't weak enough to truly undercut inflation pressures - BMO
- Chow Tai Fook Jewellery Group Ltd. (1929:HK) (CJEWF) PT Raised to HK$14.60 at HSBC
- Parke Bancorp (PKBK) Reports Q1 EPS of $0.51
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Cantor Fitzgerald, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!