Bank of America Merrill Lynch is out with its report today on Hewlett-Packard HPQ, maintaining Buy.
In a note to clients, Bank of America Merrill Lynch writes, "We view HP as a large cap, defensive investment, owing to a high portion of recurring sales, significant cost cutting levers, strong balance sheet, top-notch management, and potential share gains. The EDS acquisition should provide revenue and cost synergy opportunities, outside of those
opportunities within core-HP. Longer term, we view HP as a consolidator of share in the IT hardware market, specifically in PCs, services, and software, while maintaining its dominant share in printing."
Bank of America Merrill Lynch maintains a $44 PO on HPQ.
At the time of posting, shares of HPQ were trading pre-market at $34.56, down 0.49% from Tuesday's close.
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Posted In: Analyst ColorAnalyst RatingsBank of America Merrill LynchComputer Hardwarehewlett-packardInformation Technology
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