Sterne Agee analyst Shaw Wu on Friday downgraded his recommendation of Hewlett-Packard to neutral, noting that the company is worthless and its stock should be valued at negative $2, Business Insider reported. The analyst called the company’s balance sheet “a mess” and said its was “fortunate the stock’s not zero.” Outside of HP’s problematic balance sheet, the company still faces a number of other issues that can not easily be fixed such as its lackluster mobile portfolio and dying printer business. Read the full story at Boy Genius Report.
Analyst values HP’s stock at negative $2, calls the company worthless
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).