Hewlett-Packard (HPQ) Gets No Help from Analysts as Surprise Charges Adds to Secular Difficulty

Following Hewlett-Packard (NYSE: HPQ) Q3 earnings report, Sterne Agee maintained a Neutral rating on the stock, noting weak January quarter outlook and a $8.8 billion charge tied to Autonomy accounting fraud.

Analyst Shaw Wu said "While the write-down is non-cash, it may call into question the credibility of its board of directors."

"Though we find HPQ shares inexpensive, we maintain our Neutral rating as we are concerned there may be further downside surprises as we fear that the pressures its core businesses of PCs, printers, and services are facing may be secular and structural in nature," added Wu.

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 $13.30 yesterday.

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