Convergys Corporation (CVG) Downgraded To Sell

Analysts at Kaufman Bros. have downgraded Convergys Corporation (NYSE: CVG) from a Hold to a Sell rating.

According to analysts, the company’s core call center outsourcing business is expected to face volume, and pricing pressure. Analysts also believe that the guidance provided by the company for a recovery in the second-quarter is optimistic. Analysts believe that the Convergys stock’s current value fully reflects the upside from the CEO change, and the prospect of asset divestures.

Analysts at Kaufman Bros. have set a price target of $11 for the Convergys Corporation stock.