GO
Loading...

Bold Call: Hewlett-Packard Heading To $60

Monday, 17 May 2010 | 5:50 PM ET

In a bold move an analyst initiated coverage of Hewlett-Packard with a ‘Buy’ and a $60 price target ahead of earnings Tuesday.

Brean Murray analyst Ananda Baruah tells Fast Money that he thinks the stock is a bargain.

He expects the company to benefit from seasonal trends as well as increased IT spending as the economic recovery takes hold in the US.

What's the trade?

I see the pullback as an opportunity, says Baruah.

I’m long and I like it, adds Karen Finerman.

I also think the stock is cheap, says Guy Adami.

Tomorrow's Headlines Now
A look ahead of tomorrow's big market movers, with Paul Hickey, Bespoke and Ananda Baruah, Carret & Co.



*You can find our interview with Brean Murray analyst Ananda Baruah toward the end of this clip.


______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to fastmoney@cnbc.com.

Trader disclosure: On May 17, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns Gold; Terranova Owns (PFE), (GLD), (TER), (YHOO), (AXP); Terranova Is Short (X), (GOOG); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Is Short (IJR), (IWM), (MDY), (SPY); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC), (BAC) Preferred; Finerman Owns (GOOG); Finerman's Firm And Finerman Own (HPQ); Finerman's Firm Owns (JPM), (JPM) Leap; Finerman Owns (JPM); Finerman's Firm Owns (TGT); Finerman Owns (WFC) Preferred; Finerman's Firm Owns (WMT); Najarian Owns (AMD) Calls; Najarian Owns (AKAM) Call Spread; Najarian Owns (C) Calls; Najarian Owns (F) Calls; Najarian Owns (GOOG) Calls; Najarian Owns (HPQ), Is Short (HPQ) Calls; Najarian Owns (MS), Is Short (MS) Calls; Najarian Owns (MCD) Call Spread; Seymour owns (INTC); Jon Najarian owns (DKS); Zach Karabell owns (ATHR); Grasso Owns (BP), (NDAQ), (DYN), (LPX), (ASTM), (ABK), (BAC), (BGP), (C), (CVGI), (JPM), (PRST), (PFE), (BA), (T), (CSCO)

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (DRYS)

For Brian Kelly
Kanundrum Capital Owns (GFI)
Kanundrum Capital Owns (GLD)
Kanundrum Capital Owns (TLT)
Kanundrum Capital Owns (AUY)
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short British Pound
Kanundrum Capital Is Short Swiss Franc
Kanundrum Capital Is Short (XLK)
Kanundrum Capital Is Short (XLI)
Kanundrum Capital Is Short (XLV)
Kanundrum Capital Is Short (XLY)
Kanundrum Capital Is Short (HBC)
Kanundrum Capital Is Short (XLF)


For Steve Grasso
Stuart Frankel And Its Partners Are Short (QQQQ)
Stuart Frankel And Its Partners Are Short (CL)
Stuart Frankel And Its Partners Are Short (AAPL)
Stuart Frankel And Its Partners Own (AMR)
Stuart Frankel And Its Partners Own (BAX)
Stuart Frankel And Its Partners Own (DYN)
Stuart Frankel And Its Partners Own (CUBA)
Stuart Frankel And Its Partners Own (DYN)
Stuart Frankel And Its Partners Own (GERN)
Stuart Frankel And Its Partners Own (HSPO)
Stuart Frankel And Its Partners Own (MERC)
Stuart Frankel And Its Partners Own (NWS.A)
Stuart Frankel And Its Partners Own (NYX)
Stuart Frankel And Its Partners Own (PALM)
Stuart Frankel And Its Partners Own (PDE)
Stuart Frankel And Its Partners Own (PFE)
Stuart Frankel And Its Partners Own (PRST)
Stuart Frankel And Its Partners Own (RDC)
Stuart Frankel And Its Partners Own (TLM)
Stuart Frankel And Its Partners Own (XRX)
Stuart Frankel And Its Partners Own (SDS)
Stuart Frankel And Its Partners Are Short (QQQQ)
Stuart Frankel And Its Partners Are Short (CL)
Stuart Frankel And Its Partners Are Short (AAPL)

For Daniel Amir, Lazard Capital Markets Analyst
Lazard Capital Markets LLC is a market maker in (CREE)

For Steve Cortes
Cortes Is Short Gold, Silver
Cortes Is Long Euro

For Paul Hickey
Hickey Owns (BAC)
Hickey Owns (C)

For Ananda Baruah
Brean Murray, Carret & Co. Is A Market Maker In (DELL)

Other Relevant Disclosures:
Terranova Owned (YHOO) On 4/8/10



CNBC.com with wires

  Price   Change %Change
HPQ
---

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report