Barclays Cuts Price Target and Estimates on Hewlett-Packard (HPQ); Mounting Challenges for Printing Sector
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Price: $21.23 +0.57%
Rating Summary:
6 Buy, 20 Hold, 12 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
6 Buy, 20 Hold, 12 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
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Barclays maintains an 'Equalweight' on Hewlett-Packard (NYSE: HPQ) price target of $22.00 (from $25.00).
Analyst, Ben A. Reitzes, said, "Our research continues to point toward increased pressure on printing due to secular and macroeconomic headwinds. More specifically, we believe the structural issues that we highlighted in the inkjet market like the rise of mobility may be spreading to the business market a bit."
Reitzes also notes that as younger workers join the workforce, they may be doing less printing (and more with mobile apps). FY12 EPS estimate cut from $4.04 to $3.99 and revenues from $123.08B to $121.62B. FY13 lowered from $4.20 to $4.09.
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 $19.69 yesterday, with a 52 week range of $19.02-$37.70.
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Analyst, Ben A. Reitzes, said, "Our research continues to point toward increased pressure on printing due to secular and macroeconomic headwinds. More specifically, we believe the structural issues that we highlighted in the inkjet market like the rise of mobility may be spreading to the business market a bit."
Reitzes also notes that as younger workers join the workforce, they may be doing less printing (and more with mobile apps). FY12 EPS estimate cut from $4.04 to $3.99 and revenues from $123.08B to $121.62B. FY13 lowered from $4.20 to $4.09.
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 $19.69 yesterday, with a 52 week range of $19.02-$37.70.
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