HP's Analyst Day = Conservative Forecast

Brean Murray Carret & Co. has published a research report for Hewlett Packard Co. HPQ followings HP's analysts day. In the report, Brean Murray Carret & Co. writes "Analyst day focused on the strategy to 1) drive revenue growth while 2) expanding operating margins through both mix and cost efficiencies (most through trimming supply chain and leveraging R&D). As we suspected, HP issued FY11 revenue and EPS guidance above the Street - and while EPS guidance of $5.05 - $5.15 isn't heroically above the Street of $4.99, we remind investors that HP's original FY10 EPS guidance (Oct) provided a year ago at its Analyst Day was $4.20 - $4.30, with the Street currently at $4.51 - in other words, we'd bet that HP is again leaning conservative." Brean Murray Carret & Co. maintains its Buy rating and $50 price target. Hewlett Packard closed yesterday at $41.62.