UPDATE: J.P. Morgan Reiterates Underweight Rating, Lowers PT on Computer Sciences Corporation on Multiple Risk Factors

In a report published Wednesday, J.P. Morgan analyst Tien-tsin Huang reiterated an Underweight rating on

, but lowered the price target from $48.00 to $47.00. In the report, J.P. Morgan noted, “Uncertainty in the US federal business, workforce rationalization charge clouds the outlook and materialization of any of these risks could result in further downward revision in estimates. CSC lags peers in revenue growth and execution. The drawn out restructuring is difficult to execute and will likely require steady macro environment.” Computer Sciences Corporation closed on Tuesday at $47.28.