UPDATE: Oppenheimer Initiates NCR at Outperform

Oppenheimer is out with its report today on NCR (NYSE: NCR), initiating NCR at Outperform.

In its report, Oppenheimer writes, "We initiate coverage of NCR with an Outperform rating and 12- to 18-month price target of $23. With a 9.4% FCF yield, strong business momentum and several near-term catalysts, including the potential sale of the Entertainment business, greater-than-expected synergies from recently purchased Radiant Systems, Inc. and guidance that could prove to be low, we believe NCR is an interesting investment opportunity."

Shares of NCR closed Wednesday at $17.89, up 3.11% from Tuesday's close.