UPDATE: BMO Capital Markets PT on Computer Sciences Following Model Changes

In a report published Monday, BMO Capital Markets analyst Keith Bachman reiterated a Market Perform rating on Computer Sciences Corporation

, and raised the price target from $49.00 to $52.00. In the report, Bachman noted, “We are making a number of model changes for CSC, including reflecting recent dispositions and lowering our base case assumptions. For the dispositions, we had previously included the impact of the sale of credit services and the Italian consulting business. With this model, we are now including the sale of Paxus and ESI reseller. Combined, we are lowering our EBIT profit by $91 million in FY2014, $26 million of which we assume is driven by the disposition of Paxus and ESI. We are lowering our FY2014 EPS from $4.25 to $3.70 and introducing our FY2015 estimate of $4.42. The consensus estimate for FY2014 is $3.45, but we do not think consensus reflects recent sales.” Computer Sciences Corporation closed on Friday at $49.29.