UPDATE: Goldman Sachs Upgrades Computer Sciences Corporation to Neutral on New Management, Operating Improvements
Goldman Sachs upgraded Computer Sciences Corporation (NYSE: CSC) from Sell to Neutral and raises the price target from $32.00 to $40.00.
Goldman Sachs noted, "We are upgrading CSC to Neutral from Sell as new management's turn around plan has put the company on a faster than expected margin improvement path. We lower our revenue estimates over the forecast horizon but increase our operating margin assumptions which brings our EPS estimates up to management's medium term targets of $3.00 or more in EPS for FY14 (March FYE) and near consensus of $3.32."
Computer Sciences Corporation closed at $40.38 on Tuesday.
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