For Some, Hewlett-Packard ‘A Screaming Buy’

At the $14 level, shares of Hewlett-Packard present a strong opportunity for the long-term investor, Paul Meeks of Saturna Capital said Friday on CNBC.

On “Fast Money,” Meeks said that although Hewlett-Packard CEO Meg Whitman earlier this week warned investors about lower earnings ahead, citing cyclical and secular problems, the technology company was still a powerful name.

“If you are a long-term investor, I think 14 is a screaming buy,” he said.

HP faced a sluggish PC market and a decline in home computer printer use by consumers, but Meeks pointed to a couple of potential upside catalysts, including the introduction of a tablet device and from Microsoft .

“Windows 8 could bring some momentum,” he said.

Look for a pull-back in the next earnings report, which could see a write-down for the company’s 2011 purchase of Autonomy, a software company, he added.

(Read More: Jim Cramer: American Icon Hewlett-Packard at Risk)

Meeks said it was different than a company like Eastman Kodak, the photographic supply company that filed for bankruptcy in January.

“I think with Kodak, it was a one-product vehicle,” he said.

Meeks also said he was bearish on Facebook.

“You have to show me how you monetize mobile,” he said, adding that until that happened, he expected the stock to go “a lot lower.”

“We don’t have enough information to make that call, so stay away.”

Trader disclosure: On Oct. 5, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s “Fast Money” were owned by the “Fast Money” traders: Brian Kelly is long QQQ; Brian Kelly is long GLD; Brian Kelly is long SLV; Brian Kelly is long DAX; Brian Kelly is long DBA; Brian Kelly is long DBB; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long JPM CALLS; Pete Najarian is long INTC CALLS; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Jon Najarian is long GS; Jon Najarian is long JPM; Jon Najarian is long FB; Jon Najarian is long AMZN; Jon Najarian is long HPQ; Jon Najarian is long V; Jon Najarian is long VLO; Jon Najarian is long CVX; Jon Najarian is long YUM; Jon Najarian is long PSX; Jon Najarian is long GLUU; Jon Najarian is long CME; Jon Najarian is long CBOE; Jon Najarian is long STSI; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU.

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