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Now Is a Good Time to Invest in HP: Analyst

Current troubles at Hewlett-Packard—which caused the stock price to fall more than 7 percent Monday—present a good opportunity for investors, an analyst told CNBC Monday.

“This is a strong company in a strong industry. This is a growth company that will be spending money,” said Mark Stahlman, president of TMT Strategies. “Investors should take advantage of weakness here.”

HP CEO Hurd stepped down Fridayafter the company said he falsified expense reports to conceal a relationship with a female contractor, who accused him of sexual harassment.

Stahlman said Hurd's departure is no big loss for the computer and printer maker.

“This is hardcore Silicon Valley technology growth people who really run this company, not Mark Hurd,” added Stahlman. Neither Stahlman nor his family or company own HP stock.

CNBC contributor Jeffrey Sonnenfeld said it's right that Hurd lost his job in light of the last week's revelations. Sonnenfeld is also a professor at the Yale School of Management.

He added that Hurd’s reversal of fortune was high on the “bizarro” scale, similar to the scandals of such public figures as South Carolina governor Mark Sanford and former vice presidential candidate John Edwards, both of whose romantic entanglements brought them down.

"TMT Strategies"

"This is something that we didn’t anticipate from this kind of person," he said, referring to Hurd.

But Sonnenfeld also praised Hurd for accomplishments during his tenure.

“What he did in terms of fortifying the bench strength of this company, what he did with the balance sheet, with the finances and the product line, it’s impressive.”