UPDATE: BMO Capital Markets Reiterates Xerox at Market Perform on Positive 2013 Revenue Guidance
In a report published Tuesday, BMO Capital Markets reiterated Xerox Corp. (NYSE: XRX) at Market Perform and maintained its price target of $8.00.
BMO Capital Markets noted, "While we think that CY13 expectations are more realistic, we think that XRX will have to execute over the next few quarters to attract new investors, particularly for services margins. We don't think that the multiple will expand unless the company's financial performance becomes more predictable. [We] also maintain our target price of $8.00."
Xerox closed at $6.45 on Tuesday.
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