UPDATE: BMO Capital Markets Reiterates on Computer Sciences Following Strong EPS Beat

In a report published Thursday, BMO Capital Markets analyst Keith Bachman reiterated a Market Perform rating on Computer Sciences CSC, but lowered the price target from $54.00 to $53.00. In the report, BMO Capital Markets noted, “With the help of material margin expansion in NPS (which includes some amount of what appears to us to be one-time benefits), CSC EPS beat our EPS estimate even as revenues were lower. Actual EPS was $0.93 vs. our estimate of $0.84 and consensus of $0.82. However, NPS margins were substantially higher than our estimate, at 14.9% vs. our 11.0%.” Computer Sciences closed on Wednesday at $51.60.