Needham & Company Maintains an 'Underperform' on Hewlett-Packard (HPQ); A Circus Without The Popcorn
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Price: $30.11 -3.8%
Rating Summary:
12 Buy, 23 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 23 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains an 'Underperform' on Hewlett-Packard (NYSE: HPQ).
Needham analyst says, "The entire HP saga of the past 14 months has been among saddest and confusing examples of self-inflicted damage that we have seen in our 13 years of Wall Street research. While HP made the right decision keeping the PC business, we are no clearer (and apparently neither are they) on what the strategy is going forward. Instead, a weakened, competitively threatened company emerges that has a reduced balance sheet to expand its software/services offerings or do buybacks. We reiterate our Under Perform on HP and encourage investors to sell into the recent strength until the situation stabilizes."
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 $27.09 yesterday.
Needham analyst says, "The entire HP saga of the past 14 months has been among saddest and confusing examples of self-inflicted damage that we have seen in our 13 years of Wall Street research. While HP made the right decision keeping the PC business, we are no clearer (and apparently neither are they) on what the strategy is going forward. Instead, a weakened, competitively threatened company emerges that has a reduced balance sheet to expand its software/services offerings or do buybacks. We reiterate our Under Perform on HP and encourage investors to sell into the recent strength until the situation stabilizes."
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 $27.09 yesterday.
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