Wells Fargo: Lexmark's earnings have an impact on Hewlett Packard and the printer industry

Wells Fargo issued a report on Hewlett-Packard Company (NYSE: HPQ) after Lexmark International Inc.'s (NYSE: LXK) results suggest printer market trends remain mixed. Currently Wells Fargo rates Hewlett Packard as Outperform while a price target is unavailable.Analysts at Wells Fargo wrote, "Lexmark's results suggest the printer market trends remain mixed though it saw a greater decline in laser hardware sales (due to timing of unit placements)...We believe Lexmark results suggest our HP's Imaging and Printing Group unit forecast is reasonable though we believe currency could potentially have a favorable impact to profitability."Lexmark reported revenue of $852 million which was down from $878 million from a year ago. The company reported EPS after adjustments of $0.81, which was 5 cents better than the consensus estimates. Analysts at Wells Fargo believe that Lexmark's earnings show that Hewlett Packard has growth opportunities in the printer market going forward as demand for their products for home and office use increases. Currently shares of Lexmark are trading at $44.74, up 1.94 percent.Currently shares of Hewlett Packard are trading at $33.00, down 0.72 percent.