UBS Maintains Sell on HP (HPQ) as Competitors Take Bite Out of Profits

Yesterday's top news was Hewlett-Packard (NYSE: HPQ) multi-billion dollar charge related to alleged accounting fraud at Autonomy. While disappointing, Autonomy is not HP's only problem. Besides macro concerns and secular headwinds, HP may have competitive problems as well.

"HP is losing share in its enterprise and PC segments," said analysts at UBS, and they worry that with the brand eroding, "HP might become the industry trough for competitive share gains."

Needless to say, it has not been a fun week for HPQ investors.

UBS has a Sell rating on Hewlett-Packard (NYSE: HPQ) with a revised price target of $11.00 (from $12.75).

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Morgan Stanley Upgrades QIAGEN NV (QIA:GR) (QGEN) to Overweight
• Jefferies Starts UzNIF (UZNF:LI) at Buy
• Stifel Starts Exail Technologies SA (EXA:FP) at Buy