Jefferies Cuts Numbers on HP (HPQ)
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Price: $24.21 -2.61%
Rating Summary:
6 Buy, 21 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 21 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade HPQ Now!
Jefferies cut estimates and their price target on Hold-ratd Hewlett-Packard (NYSE: HPQ) from $23 to $21 as they see volatility through the Windows 8 launch.
The firm cites: 1) Checks point to PC demand softening in the last month. 2) Microsoft will compete with its OEM partners in tablets, which will likely confuse end users. 3) Huawei is an initial W8 launch partner, a negative for Dell/HP; 4) OEMs will likely initially approach the new W8 hybrid tablet/notebooks cautiously. 5) W8 is unlikely to have much impact on the consumer PC cycle. We cut our HP/Dell estimates below consensus.
Q3 EPS goes from $0.96 to $0.95, FY12 goes from $4.04 to $4.02 and FY13 goes from $4.15 to $4.12.
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 $19.55 yesterday, with a 52 week range of $19.47-$37.70.
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The firm cites: 1) Checks point to PC demand softening in the last month. 2) Microsoft will compete with its OEM partners in tablets, which will likely confuse end users. 3) Huawei is an initial W8 launch partner, a negative for Dell/HP; 4) OEMs will likely initially approach the new W8 hybrid tablet/notebooks cautiously. 5) W8 is unlikely to have much impact on the consumer PC cycle. We cut our HP/Dell estimates below consensus.
Q3 EPS goes from $0.96 to $0.95, FY12 goes from $4.04 to $4.02 and FY13 goes from $4.15 to $4.12.
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 $19.55 yesterday, with a 52 week range of $19.47-$37.70.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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