Seeing little if anything that can deter the accelerated growth of Hewlett-Packard (NYSE:HPQ), Needham & Company said they're maintaining a "Strong Buy" on the company.
Needham said, "A vast product portfolio. Unmatched global channel reach. A streamlined operating cost structure with a path for further improvement. A powerful balance sheet providing liquidity simultaneously for internal growth, acquisitions, buybacks and dividends. These dynamics make HPQ a unique juggernaut in the tech world, and one that cannot be easily jarred even by the loss of a CEO. While we watch with interest for how Leo Apotheker will imprint his vision on HP’s strategy, in the interim, we see little to detract from the company’s growth prospects."
The market seemed to agree with them Tuesday, as Hewlett closed at $44.19, gaining $0.94, or 2.17 percent.
Volume soared to over $51 million, more than double the $23 million 3-month daily average. Hewlett's market cap is just over $100 billion as of Tuesday.
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