HWP -- Hewlett Packard Message Board

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Technology Stocks : HWP -- Hewlett Packard

HPQ 24.30

-0.4%

3:59 PM EST

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To: William Partmann who wrote (3030)	5/2/1999 12:32:00 PM
From: William Partmann	Read Replies (1) of 4722

From Trading-Ideas.com Merrill Lynch raised earnings estimate for Hewlett-Packard for F2Q from $0.79 to $0.83 per share and the full year earnings estimate goes up to $3.44 from $3.40. Merrill feels that business conditions remain strong and has improved as the quarter progressed and likely to remain solid during the second half. They feel that revenue growth could come in at 3% to $12.4 billion compared to 1% last quarter. Printer business remains strong and should contribute well to revenue and profits. Merrill forecasts revenue growth of 8% from printer business. The PC business has also improved, server business held up well and printer demand remains strong. While business in U.S. remains sluggish Europe is doing well and Asia is rebounding, particularly Korea. Gross margin should be up year-over-year to 35.6% due to better expense control. Merrill also raised 12-month price target from $82 to $90 or 23 times their F2000 earnings estimate of $3.90. They feel that HWP's Internet strategy and overall business improvement should drive the stock higher. Merrill has a "long-term accumulate" rating on the stock.

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