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Morgan Stanley Believes HQ Visit Implies Favorable 2015 Setup For Xerox

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In a report published Thursday, Morgan Stanley analyst Brian Essex reiterated an Overweight rating and $15.00 price target on Xerox (NYSE: XRX).

In the report, Morgan Stanley noted, “After bringing in a new CFO in mid-2013, we see additional changes at the top with new Services and Technology leadership driving positive results at XRX.This week we met with Kathy Mikells (EVP & CFO), Jeff Jacobson (Technology President) and Bob Zapfel (Services President). We left with greater confidence that management clearly recognizes where XRX had issues in the past and understands how they can leverage their track records of success to drive consistent results going forward. In addition to the above, XRX has recently added to management depth by hiring a new Chief Marketing Officer and a new head for its Government Healthcare Solutions business.”

Xerox closed on Wednesday at $13.71.

Latest Ratings for XRX

DateFirmActionFromTo
Jan 2021Morgan StanleyMaintainsEqual-Weight
Dec 2020Morgan StanleyMaintainsEqual-Weight
Oct 2020Morgan StanleyMaintainsEqual-Weight

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