Markets & Finance

CIBC World Keeps 'Sector Perform' on Hewlett-Packard

CIBC World keeps sector perform on Hewlett-Packard (HPQ).

An article in Barron's says prospects are up. Analyst Ali Irani says the article says out loud what a growing chorus is whispering on Wall Street: H-P has finally moved on from its successful post-merger integration with Compaq to building a track record.

Irani notes while naysayers will be the last to embrace a rising brand power, supply-chain economies of scale, and the overall success of the franchise, the fact remains that at current 15% discount to S&P 500, the risk-reward in H-P improves with each step in execution. He says what has been lacking is a decisive catalyst; the Barron's article may not be enough, but it could jumpstart an earlier discounting mechanism.

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