Respect More Than a Quarter Away for H-P
In the wake of a
But Wall Street, leery of the company's inconsistent earnings record and a dimming growth outlook next year, remains cool to the shares.
The blow-up that took place in August -- when H-P said net income would fall well below expectations for two straight quarters -- deeply rattled investor confidence. The stock has slowly made up losses since then, however, helped along by H-P's
Yet it may be tough for the stock to move much higher, as H-P heads into what many expect to be a slower growth year in 2005.To be sure, most analysts expect H-P can match the Wall Street outlook for $21.1 billion in revenue with earnings of 37 cents a share for the fourth quarter. But they sound almost universally jaded about H-P's prospects. "Even with H-P likely hitting its targets
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