Filed under: Earnings reports, Analyst upgrades and downgrades, Dell (DELL), Hewlett-Packard (HPQ), International Business Machines (IBM), Technical Analysis, Stocks to Buy

Hewlett-Packard (NYSE: HPQ) is one of the world’s largest information technology (IT) companies, providing a broad array of personal computers, servers, storage devices, networking devices, printers, operating systems and software applications. The firm also offers a portfolio of multi-vendor technology, consulting, integration and outsourcing services. Dell (NASDAQ: DELL) and IBM (NYSE: IBM) are major competitors.

Hewlett-Packard pleased the Street last week, when it reported fiscal Q1 EPS of 86 cents and revenues of $28.47 billion. Analysts had been looking for 81 cents and $27.6 billion. Management also guided Q2 EPS to 83-84 cents (82 cent consensus), Q2 revenues to $27.7-$27.9 billion ($27.43B consensus), FY08 EPS to $3.50-$3.54 ($3.36 consensus) and FY08 revenues to $113.5-$114.0 billion ($111.7B consensus). The CEO cited “anticipated cost reductions and share gains in key markets” for the favorable outlook. AmTech Research, UBS and Caris subsequently reiterated “buy” recommendations and declared price targets in the $54-$58 range.

Continue reading Hewlett-Packard (HPQ): Shares define bullish ‘flag’ pattern

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This entry was posted on Monday, February 25th, 2008 at 6:52 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.