More Negatives on the Horizon for HP (HPQ) - Goldman Sachs
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Price: $23.54 +0.17%
Rating Summary:
12 Buy, 23 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
Rating Summary:
12 Buy, 23 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
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With shares of Hewlett-Packard (NYSE: HPQ) down 12 percent Tuesday on disclosure of accounting fraud at Autonomy, and trading at just 3.3x the top end of the company's fiscal 2013 EPS guidance, many may be licking their chops to buy the stock. DON'T say analysts at Goldman Sachs.
"While we recognize sentiment and expectations around HP’s stock and fundamentals are now remarkably depressed, we believe the stock will remain under pressure as investors still face a spate of incremental negative catalysts in coming months," Goldman Sachs analyst Bill Shope said.
The firm cut their price target from $16 to $14 and reiterated their Neutral rating.
The now estimate FY2013 revenues and EPS of $113.03 billion and $2.89, from $115.003 billion and $3.26 previously. For FY2014, they forecast revenues of $110.48 billion and EPS of $3.32, from $113.04 billion and $3.70 previously. The firm is also introducing FY2015 revenue and EPS estimates of $109.92 billion and $3.40.
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 $11.71 yesterday.
"While we recognize sentiment and expectations around HP’s stock and fundamentals are now remarkably depressed, we believe the stock will remain under pressure as investors still face a spate of incremental negative catalysts in coming months," Goldman Sachs analyst Bill Shope said.
The firm cut their price target from $16 to $14 and reiterated their Neutral rating.
The now estimate FY2013 revenues and EPS of $113.03 billion and $2.89, from $115.003 billion and $3.26 previously. For FY2014, they forecast revenues of $110.48 billion and EPS of $3.32, from $113.04 billion and $3.70 previously. The firm is also introducing FY2015 revenue and EPS estimates of $109.92 billion and $3.40.
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 $11.71 yesterday.
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