Hewlett-Packard: Brean Capital discusses HPQ’s split announcement
Brean Capital continues to believe HPQ's split announcement speaks to the inherent value of the company's businesses. They believe this could just be a "Stage 1", with "Stage 2" consisting of HP: 1) more actively pursuing consolidation in the PC industry (via ongoing profitable share gain or via inorganic means), 2) putting more energy both organically and inorganically around areas in 3D Printing and Industrial Production Printing, and 3) increased focus on M&A in the Enterprise space (Cloud, Security, Big Data). Firm believes that if HP wants to cultivate a leading professional & production presence as they've stated (or non-consumer) they will need to utilize M&A to approach the technology and material capabilities of 3D Systems (DDD) and Stratasys (SSYS).