UPDATE: Compass Point Upgrades NCR Corporation to Buy on Diverse Revenue Mix
In a report published Wednesday, Compass Point analyst Douglas Greiner upgraded the rating on NCR Corporation (NYSE: NCR) from Neutral to Buy, and raised the price target from $30.00 to $33.00.
In the report, Grenier noted, “We have been cautious to move our price target higher given the somewhat uncertain outlook for Financial Services. Competitor Diebold has been struggling recently given a drop in regional and community bank orders. However, while there may be headwinds in parts of the Financial Services end market, we find comfort in NCR's exposure to the large financial institution category where trends look to remain healthy. Moreover, we expect recent acquisitions in Retail Solutions and Hospitality to support growth. Additionally, the 10,000 self-service checkout lane order for Walmart rolls out this year.”
NCR Corporation closed on Tuesday at $27.16.
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