Stifel Nicolaus Reiterates Hold on Hewlett-Packard
Stifel Nicolaus maintains its Hold rating on Hewlett-Packard Company (NYSE: HPQ) as the company reset expectations and it tackles a challenging year ahead.
Stifel concludes, “While HP delivered on what we expected to be a positive/attainable F2012 expectation reset (guiding F2012 non-GAAP EPS of at least $4/sh.; we had previewed a view on investor sentiment gauging a downward revision into the $4.00-$4.20/sh. non-GAAP EPS range), we believe are disappointed in the lack of segment revenue and/or operating/EBIT margin guidance. We believe the company's expectation of yr/yr revenue declines throughout F2012 and commentary pointing to the potential for weakening operating/EBIT margin trends going forward will leave investors to further question the competitive pressures facing each of the company's core operating segments over the coming quarters/year.”
HPQ closed at $26.86 per share on Monday.
