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UPDATE: Deutsche Bank Upgrades Computer Sciences to Buy on Faster-Than-Anticipated Turnaround

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Computer Sciences Post-Split: Is It A Buy?

Deutsche Bank raised its rating on Computer Sciences (NYSE: CSC) from Hold to Buy and announced a $46 price target.

Deutsche Bank noted, "After meeting with the company's new mgmt and working through our model, we believe the turnaround is happening faster and normalized EPS of $5.00+ will be reached earlier than expected (current valuation does not reflect future normalized earnings). CSC currently trades at a significant discount to peers even at depressed EBITDA levels (trades at only 3.5x CY13 EV/EBITDA versus peer group of 8.4x). We are raising our FY14 EPS est $0.29 to $3.51 (above Street) and issuing FY15 EPS of $4.00, believing these figures could prove conservative."

Computer Sciences closed at $34.47 on Friday.

Latest Ratings for CSC

DateFirmActionFromTo
Jan 2016BarclaysDowngradesOverweightEqual-weight
Dec 2015JefferiesUpgradesHoldBuy
Dec 2015SunTrust Robinson HumphreyDowngradesBuyNeutral

View More Analyst Ratings for CSC
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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