Brean Murray Carret & Co. Downgrades Hewlett-Packard (HPQ) to Hold; Services Issues Are More 'Structural' Than Anticipated

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Brean Murray Carret & Co. downgraded Hewlett-Packard (NYSE: HPQ) from Buy to Hold.

Brean analyst said, "Yesterday afternoon, we downgraded our rating on HPQ to Hold, for now, given more structural softness in Services than we anticipated, exacerbated by consumer PC softness (already known and impact from Japan...We've lowered our CY11/1 EPS to $5.00 and $5.25 from $5.20 and $5.96."

For more ratings news on Hewlett-Packard click here and for the rating history of Hewlett-Packard click here.

Shares of Hewlett-Packard closed at $36.91 yesterday, with a 52 week range of $36.04-$49.39.

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