From Standard & Poor’session Equity Research

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BANC OF AMERICA SAYS HEWLETT-PACKARD’S FOURTH QUARTER OUTLOOK IS ABOVE CONSENSUS

Banc of America analyst Scott Craig notes that Hewlett-Packard (HPQ) expects to report $33.6 billion fourth billet revenue, in a high place his/consensus forecast at around $33 billion; non-GAAP EPS of $1.03 above his $1.01 forecast and concord estimate of $1.00.

Craig says more importantly, HP’s fiscal year 2009 (October) revenue guidance is $127.5-$130 billion, vs. his rate of $133.6 billion and consensus $135.1 billion, and non-GAAP EPS of $3.88-$4.03 compared to his $3.90 estimate and $3.85 consensus.

He notes guidance assumes better-than-expected verge, which may be tough in this environment. He says HP stock muffle appears to be very inexpensive, particularly relative to its peers. He has a $50 price target and rates the stock because buy.

NEEDHAM MAINTAINS HOLD ON YAHOO

Needham analyst Mark May says the search on account of a new CEO at Yahoo (YHOO) is a move many large investors esteem advocated given the failed Microsoft (MSFT) deal and Google (GOOG) partnership, and seems appropriate to him.

Given that the search has been initiated, May thinks the probability of an external candidate being chosen is greater than average. He notes continued distractions at Yahoo and challenges in the operating environment support his cautious view on stock.

That reported, he also notes that Yang’session departure as CEO could signal a new position by the board to review stipulations of a merger with Microsoft.

BB&T CAPITAL UPGRADES CHIQUITA TO BUY FROM HOLD

BB&T Capital analyst Heather Jones says because that Chiquita Brands International (CQB) reported third quarter earnings on Oct. 30, CQB shares wish declined 31.7%, vs. a 10.8% drop for S&P 500, despite a 7.6% grow yesterday, which was triggered by insider buying.

Jones thinks the pressure is likely attributable to means selling, as incremental fundamental data is positive. She adds that management has done an impressive job in cleaning up the remainder. sheet.

She notes CQB is very comfortably positioned by attention to its trespass covenants. She expects the company to continue to reduce debt, as its cash flow has been solid. She sees $1.55 2008 EPS and $1.17 2009. Jones has a $14 price target on the stock.

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