Goldman Sachs Reiterates Hewlett-Packard Sell (HPQ)

Goldman Sachs reiterated its Hewlett-Packard HPQ Sell rating in a research report published today. In the report, Goldman Sachs states, "We would note that our Sell rating on HP and our below-consensus estimates have largely been based on our view that the need for incremental enterprise investments could pressure HP's profits and valuation in coming quarters. Nevertheless, our view on HP's IPG (Imaging and Printing) segment has been fairly neutral, with estimates largely in-line with the consensus outlook. This survey, however, suggests that HP's profit trends could see further pressure due to secular deterioration in corporate consumables demand." Shares of Hewlett-Packard were at $47.70 in pre-market trading at the time of posting, up 0.57% from Friday's market close.