Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Morgan Stanley Downgrades HP


Morgan Stanley downgrades Hewlett-Packard (HPQ) to underweight from equal-weight.

Analyst Rebecca Runkle says with HP showing overall tepid retail data points and less-than-perfect execution in enterprise, she's shifting to an underweight rating. She cuts her $20 target to $18, or 11 to 12 times her calendar year 2005 earnings per share estimate.

She notes with Dell going after HP's largest profit pools and continued signs of supply chain inefficiencies, she believes the chance for mis-execution over the near term remains high.

Runkle ees $1.56 fiscal 2005 (ending October) earnings per share, and $1.68 fiscal 2006 earnings per share.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus