HP Continues to Have Strong Competitive Position, Still a Buy - Steve Biggs (Zacks.com)

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HP Continues to Have Strong Competitive Position, Still a Buy
May 21, 2008 06:29 PM UTC

Steve Biggs (Zacks.com)

Return	Risk
-16.68%	HIGH

Tracked Blogger

Profile & Performance

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Symbol	Sentiment	Start	Return	Closed
HPQ		05/21/08	+10.05%	--

5/21 - "We maintain our Buy recommendation on Hewlett-Packard Company (HPQ) on the back of the company’s second-quarter results, as we believe the world's biggest computer maker is well positioned with 70 percent of its revenue and virtually all its growth coming from international markets. The company has maintained a strong competitive position against is closest rivals, IBM (IBM) and Dell (DELL)."

"The stock is currently trading at a P/E multiple of 13.1x our 2008 EPS estimate of $3.56, which is a discount to the industry average and its closest peers, Dell and IBM. Given its continued momentum and geographic diversification, we keep our target price of $55 on the stock."

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