Zacks Analyst Blog Highlights: Hewlett-Packard Co., Aluminum Corporation of China, Ltd., Post Properties, Inc., Cree, Inc. and Zions Bancorporation.

CHICAGO--(BUSINESS WIRE)--Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Hewlett-Packard Co. (NYSE: HPQ), Aluminum Corporation of China, Ltd. (NYSE: ACH), Post Properties, Inc. (NYSE: PPS), Cree, Inc. (Nasdaq: CREE) and Zions Bancorporation (Nasdaq: ZION).

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Here are highlights from Tuesday’s Analyst Blog:

Hewlett-Packard Maintains a Hold

We maintain our Hold recommendation on the shares of Hewlett-Packard Company (NYSE: HPQ).

Hewlett-Packard is currently trading at a P/E multiple of 8.7x our 2009 EPS estimate of $3.99. This is a discount to the industry mean. The company has sustainable competitive advantages, including its broad product line and strong international (deriving 68.0% of Q3 2008 revenue) presence as well as strong consumer presence. However, stiff competition in enterprise markets and economic concerns point to potentially slowing top-line growth.

Chalco Affected by Weak Demand

Aluminum Corporation of China, Ltd. (Chalco) (NYSE: ACH), headquartered in Beijing, China, along with its subsidiaries is engaged in the exploration and production of bauxite, and the production, sales and research of alumina, primary aluminum, aluminum-fabricated products, gallium and carbon.

On November 11, Chalco announced to delay its work on alumina and aluminum projects in China due to weak demand. On November 7, the company announced that it has cut its spot alumina price to Canadian Dollar 2,600 a metric ton from Canadian dollar 2,900 per metric ton. The company did not give any reason for the price cut.

Post Properties Stays a Sell

Post Properties, Inc. (NYSE: PPS) has frozen new development starts for the foreseeable future, due to the rapidly deteriorating economic environment. In addition, there has been a material slowdown in leasing activity at properties current under development. The company is not funding its dividend at the AFFO [Adjusted Funds From Operations] level; as such, a cut is probable in 2009.

The company has taken $42.5 million ($0.95 per share) of charges so far in 2008 due to asset impairments, hurricane losses, severance charges, and expenditures related to the strategic review. Post Properties, Inc. expects to incur an additional $40 million + ($0.90 per share) of expenses to repair stucco facades at about 30 properties.

CREE Shines a Bright Light

Cree, Inc. (Nasdaq: CREE) is one of the leading producers of SiC and GaN-based LEDs. September quarter results exceeded the consensus on both the top and bottom lines. Forward guidance is for a 1-4% growth in the December quarter.

The global movement to energy-efficient lighting is prompting lighting companies and consumers to look at other options. Therefore, lighting will be the strongest end-market for Cree, likely followed by video displays and notebooks.

Zions Bancorp Misses Again

Zions Bancorporation's (Nasdaq: ZION) 3Q08 operating earnings of $0.51 per diluted share were substantially below our estimate as well as consensus. The earnings for the quarter were mostly impacted by the sharp increase in provisions coupled with impairment and valuation losses on securities.

Ongoing weakness in the Southwestern residential real estate markets, where the company has a significant exposure, continues to hurt the results. Though loan and deposit growth were satisfactory, NIM [net interest margin] declined further during the quarter.

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