HP could be headed for another multibillion-dollar write off
Even if the worst is over for HP (HPQ), the company may not yet be done writing off losses from past acquisitions. The San Jose Business Journal interviewed a few analysts to get predictions on what HP’s analyst meeting will reveal next week, and Jefferies’ Peter Misek says that the electronics giant could be poised to write off $3 billion in losses linked to its 2011 acquisition of enterprise information technology firm Autonomy. Last quarter, HP took a $8 billion charge related to its 2008 acquisition of Electronic Data Systems. Overall, Misek has recommended that investors sell their HP shares and has projected that the company’s stock price will drop to as low as $14 over the next year.
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