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Technology Stocks : HWP -- Hewlett Packard -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (3099)	7/8/1999 3:43:00 PM
From: William Partmann	Read Replies (1) \| Respond to of 4722

Hewlett-Packard Stock Hits Record Amid Sales Optimism PALO ALTO, Calif. (Reuters) - Shares of Hewlett-Packard Co. (NYSE:HWP - news) rose to a record Thursday amid optimism that revenues at the No. 2 computer maker will resume a double-digit growth rate. The stock rose $6.06 to $105.38 in late New York composite trading. Earlier the stock touched a record $106.38. The shares are up from a year low of $47.06. ''We are encouraged that H-P is well on course to post its long anticipated return to double digit order and revenue growth, after having been saddled with essentially zero growth for the past several quarters,'' wrote analyst Richard Chu of SG Cowen, in a note to clients. Chu noted that he expects H-P's third-quarter revenue to rise 11 percent to $12.1 billion, and order growth to post gains of 15 percent. He said that all areas of Palo Alto, Calif.-based H-P's businesses appear to be strong: Unix servers, printers, its measurement business as well as personal computers. Because of these factors, Chu wrote, he raised his price target on H-P stock to $125. Also helping is H-P's new HP9000 N-class midrange servers and the ''very aggressive E-services campaign which has clearly begun to sharpen H-P's heretofore low-profile market presence,'' Chu wrote. -------------------------------------------------------------------------------- exchange2000.com