Hewlett-Packard Company (NYSE:HPQ): Jefferies lowered its earnings estimates for both Hewlett-Packard (NYSE:HPQ) and Dell (NASDAQ:DELL) after its trip to Asia and channel checks indicated PC and notebook inventories have begun to rise quickly. The firm believes its PC growth rate for 2012 of down 3% is far more likely than the consensus expectation of up 5%-7%. Jefferies cites PC shipment weakness and a less favorable component environment for its estimate reductions and dropped its price target for Hewlett-Packard shares to $30 from $35. The firm keeps a Buy rating on Hewlett-Packard, however, and a Hold rating on Dell.
VeriFone Systems, Inc (NYSE:PAY): After meeting with VeriFone’s management, RBC Capital reports that it’s “impressed” by the number of sustainable growth opportunities that the company.has. The firm maintains a $55 target and Outperform rating on the shares.
Mellanox Technologies, Ltd. (NASDAQ:MLNX): Following management meetings, Barclays expects Mellanox’s market opportunity to grow citing market shares gains and traction in new products. Shares a re Overweight rated with a $45 price target.
Polypore International Inc. (NYSE:PPO): Baird said Polypore’s operating leverage remains powerful citing the company’s new reporting methodology of quarterly performance for each business segment. The firm projects growth in all segments and despite the company’s expense run rate maintains its Outperform rating and $58 price target.
Cobalt International Energy, Inc. (NYSE:CIE): Stifel Nicolaus raised its target on Cobalt after the company announced a discovery in Angola. The firm now sees an increased probability of success for Cobalt in Angola and Gabon, and the firm maintains a Buy rating on the stock.
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