Barclays Cuts Price Target and Estimates on Hewlett-Packard (HPQ); Mounting Challenges for Printing Sector
Tweet
Share
E-mail
Get Alerts HPQ Hot Sheet
Price: $27.81 +0.69%
Rating Summary:
16 Buy, 20 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
- Comerica (CMA) PT Raised to $54 at Piper Sandler
- QuantumScape (QS) PT Lowered to $6 at Truist Securities
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
BarclaysSign 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!
