J.P. Morgan is out with its report today on NCR NCR, upgrading NCR from Neutral to Overweight.
In its report, J.P. Morgan writes, "NCR is trading at
just 7.8 times CY12E PF EPS, and a CY12E EV/EBITDA multiple of 3.9x, approximating the trough-level multiples in 2007-2008. The stock is also trading at a discount to its peer group, including DBD DBD, which we view as having weaker overall fundamentals. We think the stock has been largely derisked in the context of a broader sell-off, and we recommend buying here."
J.P. Morgan raises its PT on NCR from $21 to $22.
Shares of NCR closed Wednesday at $16.63, up 4.79% from Tuesday's close.
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