FBN Securities Retains Hewlett Packard Sector Perform, Lowers PT

FBN Securities retained its Hewlett Packward HPQ Sector Perform rating and lowered its Hewlett Packard price target from $38 to $28 in a research report published today. In the report, FBN Securities states, "The bottom line is that while HPQ is trying to become “more like IBM” (exit PCs, add more software), there are multiple execution risks involved; therefore, the apparently compelling “value” is not enough of a reason for us to go positive on the name." Shares of Hewlett Packard were trading at $23.43 at the time of posting, down 20.60% from Thursday's market close.