Market Overview

UPDATE: JP Morgan Raises PT to $38 on Computer Sciences Corporation Following Solid FQ2 Profits

Share:
Related CSC
10 Notable Stocks Trading Ex-Dividend Monday, August 29
10 Stocks You Should Be Watching Today
Insider Slashes 65,……… Computer Science Shares (GuruFocus)

JP Morgan reiterated its Underweight rating on Computer Sciences Corporation (NYSE: CSC) but raised its price target from $34 to $38.

JP Morgan commented, "CSC's F2Q results were mixed, but included very solid profitability which drove the stock up 17% (vs. S&P 500 up 1%). We believe F2Q results indicate management's restructuring plan to enhance profitability is already producing better results. We are also encouraged with progress in the NHS contract (a binding contract finally signed) and prepayment on the upcoming debt maturity. However, with the stock seemingly pricing in much of the near term margin progress (11x our CY13 estimates), drawn out nature of the company's restructuring (CSC targets $5 in earnings in FY17), and continued underperformance in top-line metrics, we maintain our UW rating."

Computer Sciences Corporation closed at $36.80 on Tuesday.

Latest Ratings for CSC

DateFirmActionFromTo
Aug 2016Morgan StanleyMaintainsEqual-weight
Aug 2016CitigroupMaintainsNeutral
May 2016Raymond JamesDowngradesOverweightMarket Perform

View More Analyst Ratings for CSC
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CSC)

View Comments and Join the Discussion!