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Citi Reiterates a 'Buy' on Hewlett-Packard (HPQ); Confidence in Near-Term & Long-Term Growth Outlook

May 28, 2010 9:37 AM EDT


Citi reiterates a 'Buy' on Hewlett-Packard Co (NYSE: HPQ), price target $65.

Citi analyst says, "We reiterate a Buy on HP’s shares following a day of meetings with the co’s Imaging and Printing (IPG) management in San Diego. During the meeting, IPG management outlined its strategy for sustained IPG growth beyond the current recovery, with core distributed inkjet and laser printer growth (80-85% of IPG revenue) driven by emerging markets and share gains and non-core growth driven by Managed Print Services (MPS), Commercial/Graphic Arts, retail kiosks and minilabs (2,400 storefronts currently going to ~7000 by year-end) and workflow solutions."

Year Two: Managed Print Services Focuses on Change

Ed posted this over at ChannelWeb, here.

I commented, and then I cut and pasted - enjoy.
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Ed Crowley
Posted by Ed Crowley on May 28, 2010 1:43:34 PM

The first North American Managed Print Services (MPS) conference was launched in April of 2009 amidst the very ugly depths of the economic crises of 08-09 at a time when other conferences were seeing their attendance fall by 50% or more.

Many skeptics debated whether this would be a huge failure, or at best, moderately successful. Well, the first conference ended with 35% more attendees than planned, tremendous excitement and enthusiasm, and the formation of the Managed Print Services Association (MPSA).