Zacks Investment Research downgraded shares of Unisys Corporation (UIS) from NEUTRAL to UNDERPERFORM on January 07, 2013, with a target price of $16.00.
Unisys provides IT services, software, and technology that solve mission-critical problems for clients across the globe. We are downgrading our recommendation on Unisys from Neutral to Underperform driven by negative investor sentiments as most earnings estimates were revised down in recent time. However, over the last few years, Unisys has been restructuring its business to improve profitability. This restructuring strategy includes slashing jobs to reduce costs, divesting non-core businesses and revamping its sales strategy, while also investing further on a few higher-growth areas, such as outsourcing. If the company can tide over the current negative perception, it can expect a steady reversal of fortunes in future.
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