Thursday, May 23, 2013 1:02:47 PM
Goldman Sachs today maintained a Sell rating on Hewlett-Packard (NYSE: HPQ) with a modified price target of $17.00 (from $16.00). Yesterday HP reported solid Q2 results and strong cash flow guidance. Despite this and what Goldman admitted was an "impressive" quarter, analyst Bill Shope remains bearish.
"Overall, the company's execution this quarter was impressive. With that said, we are maintaining our Sell rating because we believe HP's businesses are facing even more distress than we originally anticipated, and we believe the company's short-term, restructuring-driven profit and cash flow recovery is unsustainable," said Shope.
Shope thinks challenges are in part related to years of underinvestment and aggressive cost cutting, a problem the company has not addressed. It is also highly exposed to distressed end markets.
For an analyst ratings summary and ratings history on Hewlett-Packard click here. For more ratings news on Hewlett-Packard click here.
Shares of Hewlett-Packard closed at $21.23 yesterday, with a 52 week range of $11.35-$24.05.
Recent HPQ News
- HP Inc. Appoints Karen Parkhill as Chief Financial Officer • GlobeNewswire Inc. • 06/26/2024 01:00:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 08:31:41 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 08:30:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 08:16:26 PM
- HP Inc. Names Fama Francisco to Board of Directors • GlobeNewswire Inc. • 06/17/2024 07:00:27 PM
- HP Study: Business and government leaders believe technology is key to expanding economic opportunity • GlobeNewswire Inc. • 06/12/2024 10:00:00 AM
- HP Inc. Declares Dividend • GlobeNewswire Inc. • 06/11/2024 08:15:27 PM
- Form 11-K - Annual report of employee stock purchase, savings and similar plans • Edgar (US Regulatory) • 06/06/2024 08:55:11 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/30/2024 08:07:40 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/29/2024 08:17:14 PM
- HP Inc. Reports Fiscal 2024 Second Quarter Results • GlobeNewswire Inc. • 05/29/2024 08:15:04 PM
- US Index Futures Drop Amid Rising Treasury Yields and Inflation Concerns, Oil Prices Increase • IH Market News • 05/29/2024 11:28:38 AM
- HP Unlocks New Era of AI Experiences Powering Work and Creation • GlobeNewswire Inc. • 05/20/2024 06:00:00 PM
- HP Catches Cybercriminals ‘Cat-Phishing’ Users • GlobeNewswire Inc. • 05/16/2024 07:10:00 AM
- HP Inc. Declares Dividend • GlobeNewswire Inc. • 05/15/2024 09:00:08 PM
- HP Inc. to Announce Second Quarter Fiscal 2024 Earnings on May 29, 2024 • GlobeNewswire Inc. • 05/08/2024 08:15:03 PM
- HP's Next Gen Antivirus Given Perfect Score In Independent Test • GlobeNewswire Inc. • 04/25/2024 01:11:30 PM
- Ferrari And HP Announce a Title Partnership • GlobeNewswire Inc. • 04/24/2024 12:34:18 PM
- United Shares Surge 5.3% in Q1 2024 Earnings Beat; Take-Two Cuts 5% of Workforce, and More News • IH Market News • 04/17/2024 10:57:39 AM
- HP Unveils Canadian Cohort for 2024 Digital Equity Accelerator Program • GlobeNewswire Inc. • 04/16/2024 01:00:45 PM
- HP Announces 2024 Digital Equity Accelerator Cohort • GlobeNewswire Inc. • 04/16/2024 01:00:03 PM
- Paramount Global Board Shrinks, Morgan Stanley Faces Regulatory Probe, and More News • IH Market News • 04/12/2024 11:05:29 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/11/2024 08:46:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 10:23:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 10:18:01 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM