In a report published Wednesday, BMO Capital Markets reiterated its Market Perform rating on Hewlett-Packard Company HPQ, but lowered its price target from $18.00 to $14.00.
BMO Capital noted, “We think that low margins in PC and ESSN businesses will likely persist owing to pressure from aggressive pricing, mix, and weak demand/volumes. In addition, we think needed investments in services will pressure op profits in FY13. Finally, weak printer unit sales suggest HP will face long-term growth (ink/tonner) and margins pressures in the printer business unit.”
Hewlett-Packard Company closed on Tuesday at $11.71.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in