Via blogs.barrons.com/techtraderdaily
Last night’s strong quarterly results at Hewlett-Packard (HPQ), consisting of especially strong personal computer sales, with the company clearly gaining share, won praise even among skeptics. Most everyone’s estimates are going up, and several price targets have gone above $50, though there are no rating changes on the stock as yet.
Bulls see some evidence HP is finally moving beyond cost-cutting to being more of a growth stock by stealing market share. Bears, while not making too much of a lighter-than usual April quarter implied in the company’s forecast, still refused to be converted to the HP religion.
HP shows signs of becoming a growth stock:
Goldman Sachs’s Laura Conigliaro says “HP came through again,” and like several folks, she’s raising her ...
Citigroup’s Richard Gardner says HP is still one of Citi’s “top picks” for 2007, despite what seemed a “conservative” forecast for the April quarter; HP got aggressive in ...
Bear Stearns’s Andrew Neff says there’s more support for his increased price target, now $59 instead of $58, with its seventh straight quarter of upside to estimates in...
A.G. Edwards & Sons’s David Wong: “Another solid quarter” with printing margins up half a percent; growth in notebook computer shipments of 57%, year-over-year, shows the market is healthy and that HP is gaining share — “PC market demand appears solid”; ...
R.W. Baird & Co.’s Daniel Renouard says last night’s results are evidence the company remains in the middle of a multi-year turnaround and rates the stock Outperform. He raised his 2007 profit estimate to $2.65 from $2.52 and is holding onto a prior price target of $50 |
