Zacks Investment Research upgraded shares of Xerox Corp. (XRX) from UNDERPERFORM to NEUTRAL on October 18, 2012, with a target price of $7.75.
We have upgraded our recommendation on Xerox to Neutral from Underperform with a target price of $7.75. The company reported adjusted profit of $0.26 per share in the second quarter of 2012, in line with the Zacks Consensus Estimate. The company's DO, BPO and ITO business have been improving as reflected in its revenue growth in the last reported quarter. Further, it expects to grow through meaningful acquisitions. However, the presence of a large number of substitutes and strong peer pressure are major threats to the company. It has lowered its full year EPS guidance to $1.07-$1.12 from $1.12-$1.18 due to soft technology business.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Xerox Corp. (XRX),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment