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Citi reiterates Sell rating on HP after PC unit data

Citigroup notes that IDC released its preliminary Q1 unit estimates for the PC industry, which show a year-over-year decline of 13.9%, below the firm’s estimate of 9%. Citi reiterates a Sell rating on shares of Hewlett-Packard (HPQ), saying it expects the company to market share to Asian computer makers, particularly Lenovo (LNVGY).