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H-P (HPQ -0.6%) opens lower after Topeka's Brian White, best known for praising all things...

H-P (HPQ -0.6%) opens lower after Topeka's Brian White, best known for praising all things Apple, downgrades shares to Sell in response to their rally. H-P's product line issues, a weak IT spending environment, and Cisco and EMC's ambitions to become broader IT solutions providers are named as concerns. White also notes H-P's European exposure (EMEA was 36% of FQ4 sales), and says his firm believes "IT spending in the region has deteriorated further over the past few weeks." (yesterday)
Comments (2)
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    HPQ shares are celebrating the downgrade.

     

    +1.20% as I type.
    18 Dec 2012, 11:54 AM Reply Like
  • dr_randevil
    , contributor
    Comments (43) | Send Message
     
    what's his price target on HPQ? My guess is $11.11
    18 Dec 2012, 12:14 PM Reply Like
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