Collins Stewart Reiterates a 'Neutral' on Hewlett-Packard (HPQ); Whitman In, Apotheker Out, Challenges Remain

Collins Stewart reiterates a 'Neutral' on Hewlett-Packard (NYSE: HPQ) price target cut to $25.00.

Collins analyst says, "We reiterate our rating & cautious stance on HP shares. Whitman will no doubt be a better communicator than Apotheker & may be successful in re-invigorating a weary employee base, but solving HP’s problems will take time (case in point: HP re-iterated F4Q EPS guidance but is "less confident" in its rev guidance). In addition, we don’t attribute all of HP’s missteps to Apotheker. Due to heightened execution risk & decreased confidence, we lower our PT to $25."

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 $22.80 yesterday.

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