Market Overview

UPDATE: Deutsche Bank Upgrades Computer Sciences to Buy on Faster-Than-Anticipated Turnaround

Share:
Related CSC
A Peek Into The Markets: U.S. Stock Futures Flat Ahead Of Economic Data
Jim Cramer Weighs In On American Tower, Home Depot, Callaway Golf, Computer Sciences And Hewlett Packard Enterprise

Deutsche Bank raised its rating on Computer Sciences (NYSE: CSC) from Hold to Buy and announced a $46 price target.

Deutsche Bank noted, "After meeting with the company's new mgmt and working through our model, we believe the turnaround is happening faster and normalized EPS of $5.00+ will be reached earlier than expected (current valuation does not reflect future normalized earnings). CSC currently trades at a significant discount to peers even at depressed EBITDA levels (trades at only 3.5x CY13 EV/EBITDA versus peer group of 8.4x). We are raising our FY14 EPS est $0.29 to $3.51 (above Street) and issuing FY15 EPS of $4.00, believing these figures could prove conservative."

Computer Sciences closed at $34.47 on Friday.

Latest Ratings for CSC

DateFirmActionFromTo
Mar 2017Pacific CrestInitiates Coverage OnSector Weight
Oct 2016CitigroupUpgradesNeutralBuy
Oct 2016BarclaysMaintainsOverweight

View More Analyst Ratings for CSC
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (CSC)

View Comments and Join the Discussion!