UPDATE: Sterne Agee Downgrades Hewlett-Packard Company from Buy to Neutral

Sterne Agee has published a research report on Hewlett-Packard Company

downgrading the company. In the report, Sterne Agee wrote, "We are downgrading our rating on HPQ to Neutral from Buy. We do not like to change investment ratings post earnings reports as it is “after the fact” and reactionary, butwe see material changes to HPQ's fundamentals that give us concerns with increased execution risk. We are also suspending our price target (previously it was $53)." Sterne Agee downgraded Hewlett-Packard from Buy to Neutral with a price target suspended. Hewlett-Packard closed Thursday at $29.51.