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Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (2274)	11/20/2002 7:10:16 PM
From: PCSS	Respond to of 4345

the last AHT I'm showing is 18.60

To: Night Writer who wrote (2274)	11/21/2002 7:10:21 AM
From: PCSS	Read Replies (1) \| Respond to of 4345

CNBC reporting HPQ @18.50 in pre-market trading @7:05am from G-S's Research Report this morning: HP: Structural Chgs Beg`g To Deliver Results EPS (FY Oct): 2003E US$1.20, 2004E US$ - Outperform HP's strong top and bottom line perf. relative to expectations suggest that its cost savings are taking firm hold throughout the company even while revenue-generating improvements are just beg'g. For the Jan qtr, we are now estimating revs of $18.4B vs. $18.2B prior and EPS of $0.27 is unchanged. Although the stock has significantly performed in recent weeks, valuation remains attractive at 13X our $1.34 CY03 est, 0.7X the S&P 500, and 0.7X trailing sales. Given the potential for narrower losses in both enterprise and personal systems, both HPQ's earnings and its multiple have room to expand over time. As such, we maintain our sector 'Outperform' rating; sector view neutral.