Sterne Agee Maintains a 'Buy' on Hewlett-Packard (HPQ); Solid EPS Despite Light Revenue
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Price: $21.12 -0.28%
Rating Summary:
6 Buy, 20 Hold, 12 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
6 Buy, 20 Hold, 12 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade HPQ Now!
Sterne Agee maintains a 'Buy' on Hewlett-Packard (NYSE: HPQ) price target of $31.00.
Analyst, Shaw Wu, said, "HPQ posted a solid quarter and essentially in-line guidance. However, concerns with its quality of earnings given the large amount of restructuring charges and negative tone on its conference call unfortunately overshadow the considerable improvement made in its balance sheet. We estimate net debt declined by nearly $3 billion Q/Q. Going forward, we believe improvements in its cost structure should make the company more competitive. We find the risk-reward favorable trading at 4x CY13 EPS."
"For FY12, we are now at $121 billion in revenue and $4.10 in EPS (from $123 billion and $4.10 in EPS) and for FY13, $120 billion and $4.40 in EPS (from $124.5 billion and $4.45 in EPS)."
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 $19.20 yesterday, with a 52 week range of $17.41-$30.00.
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Analyst, Shaw Wu, said, "HPQ posted a solid quarter and essentially in-line guidance. However, concerns with its quality of earnings given the large amount of restructuring charges and negative tone on its conference call unfortunately overshadow the considerable improvement made in its balance sheet. We estimate net debt declined by nearly $3 billion Q/Q. Going forward, we believe improvements in its cost structure should make the company more competitive. We find the risk-reward favorable trading at 4x CY13 EPS."
"For FY12, we are now at $121 billion in revenue and $4.10 in EPS (from $123 billion and $4.10 in EPS) and for FY13, $120 billion and $4.40 in EPS (from $124.5 billion and $4.45 in EPS)."
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 $19.20 yesterday, with a 52 week range of $17.41-$30.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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