Morgan Stanley Still Waiting On Commercial Inflection For Computer Sciences Corporation

In a report published Tuesday, Morgan Stanley analyst Brian Essex reiterated an Underweight rating and $58.00 price target on

. In the report, Morgan Stanley noted, "CSC faced incremental execution issues in the Q resulting in about $150 million shortfall in revenues relative to expectations.While we expect management to improve performance in the next few Qs by taking corrective steps, we highlight the challenges that the company faces in making the pivot from cost cutting to growing/stabilizing revenues. CSC indicated that execution issues remain as the company lacked the proper alignment of talent to execute on the work it did have this quarter. Additionally, CSC highlighted some execution issues in the US, which is a competitive market,and may require increased management focus to improve, in our view." Computer Sciences Corporation closed on Monday at $64.84.