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Current DateTime: 05:03:03 23 Nov 2009
LinksList Documentid: 30328029

CNBC Stock Blog

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Jul.10
9:53 AM ET
Friday, 10 Jul 2009
Four Hardware Stocks Upgraded by Goldman

Technology giant Dell [DELL  Loading...      ()   ] was raised to conviction list buy from neutral by Goldman Sachs Friday, due to its significant operating leverage and its ability to capitalize on the corporate PC upgrade cycle.

Goldman also raised its overall view on the U.S. hardware sector to attractive from neutral, adding that the outlook for IT spending looked encouraging.

Hewlett Packard, [HPQ  Loading...      ()   ] Seagate Technology [STX  Loading...      ()   ] and Apple [AAPL  Loading...      ()   ] were also upgraded by Goldman.

Hewlett Packard now has a price target of $47 per share, up from $39, due to a rebound in its printer business and second-half PC seasonality, Goldman said. Apple now has a Goldman price target of $160, up from $145 per share.

The investment bank said it also favors Arrow Electronics [AAPL  Loading...      ()   ] based on its operating leverage and stock underperformance.

Both IBM, [IBM  Loading...      ()   ] Western Digital [WDC  Loading...      ()   ] and CA [CA  Loading...      ()   ] were cut to neutral from buy.

- Reuters contributed to this report.

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