Market Overview

UPDATE: BMO Capital Markets Reiterates on Xerox Following Annual Analyst Meeting

Related XRX
#PreMarket Primer: Tuesday, September 16: World's Largest Brewers Could Join Forces
Markets Reverse Early Morning Losses; Still Lower On The Day

In a report published Wednesday, BMO Capital Markets analyst Keith Bachman reiterated an Outperform rating on Xerox Corporation (NYSE: XRX), and raised the price target from $10.50 to $11.50.

In the report, BMO Capital Markets noted, “We come away from XRX annual analyst meeting a bit more encouraged. We found the strategy and detail more compelling than in years past. We believe that the new CFO is having a positive impact. With that said, we believe that XRX needs to execute more consistently against stated goals. Over the past few years, XRX has consistently missed top- and bottom-line guidance. However, at this point, we believe that expectations are realistic. We are not willing to suggest estimates have upside tension, but we think the valuation is reasonable such that XRX delivering on our/consensus expectations will cause the stock to move higher.”

Xerox closed on Tuesday at $10.69.

Latest Ratings for XRX

DateFirmActionFromTo
Sep 2014Standpoint ResearchDowngradesBuyHold
Aug 2014Morgan StanleyReiteratesOverweight
Jul 2014JP MorganUpgradesUnderweightNeutral

View More Analyst Ratings for XRX
View the Latest Analyst Ratings

Posted-In: BMO Capital Markets Keith BachmanAnalyst Color Price Target Analyst Ratings

 

Related Articles (XRX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters