UPDATE: BMO Capital Markets Upgrades Xerox Corporation to Outperform on Execution, Valuation

BMO Capital Markets upgraded Xerox Corporation

from Market Perform to Outperform and raised the price target from $9.00 to $10.00. BMO Capital Markets said, "After several years of inconsistent results, we believe that XRX can improve execution across a variety of metrics that can move the shares higher. We believe that positive y/y CC revenue growth, positive y/y growth in services signings, improving mix of services as a percentage of total revenue, stable or modestly improving operating margins, and more balanced capital allocation with a gradually growing dividend, can all lead to multiple expansion over the course of CY13." Xerox Corporation closed at $7.93 on Friday.