ARGUS Downgrades Hewlett-Packard (HPQ) to Hold
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ARGUS downgrades Hewlett-Packard Co. (NYSE: HPQ) from Buy to Hold.
ARGUS analyst says, "Despite the positive long-term potential of the EDS acquisition, we believe that initial margin pressure and the lower valuations accorded to EDS in the past will result in lower valuation metrics for HPQ. We also note that the current economic climate may put pressure on H-P's other businesses, with the appreciation of the dollar possibly dampening international growth...Following the EDS acquisition, H-P now faces integration risk, as well as increasing competition in the computer services business...Other risks for Hewlett-Packard, which we have discussed in the past, include the impact of competition from ink refill providers on the company's printer supplies business."
Hewlett-Packard Company (HP), is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including in the public and education sectors.
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