JP Morgan: NCR To Struggle For Earnings Growth In 2011-2012
Analysts at JP Morgan reiterate their "overweight" rating on NCR Corporation (NYSE: NCR), while reducing their estimates for the company. The target price for NCR has been reduced from $18.50 to $17.50.
According to JP Morgan, “With global GDP growth likely to be lower than previously anticipated, we are trimming growth for NCR’s core financial services and retail businesses slightly. In addition, we are cutting our forecasts for the DVD Kiosk business based on the assumption that growth in online video will accelerate dramatically this holiday season causing NCR (and CSTR, see separate note) to scale back kiosk expansion plans…..NCR will struggle for earnings growth in 2011-2012.”
JP Morgan has lowered its EPS estimate for FY11 from $1.68 to $1.60.
