Brean Murray Carret Reiterates Hold on Hewlett Packard

Brean Murray Carret maintains its Hold rating on Hewlett Packard (NYSE: HPQ) following the earnings call for the company's January quarter.

Brean Murray Carret says, "HP's overriding message on the call seemed to be that this would be a multi-year transition. This is going to take a while; 2H12 EPS improvement is inherent in HP's guidance, as HP suggests it can do ~$1.82 in 1H12 EPS, leaving $2.18 + to be achieved in 2H12. Potential catalysts for the stock, as we move forward, could be relief from hard drive undersupply and a printer ink channel inventory adjustment (both material to GM)."

HPQ closed at $28.94 a share on Wednesday.