Zacks Investment Research upgraded shares of NCR Corp-New (NCR) from NEUTRAL to OUTPERFORM on April 26, 2013, with a target price of $32.00.
NCR manufacturers ATMs, Point-of-sale devices, cash dispensers and various self service kiosks. The company reported decent fourth-quarter results, with revenues improving across most of its business segments and EPS surpassing the Zacks Consensus Estimate. The company provided a decent fiscal 2013 guidance anticipating more balanced revenue growth across its core Financial, Hospitality and Retail verticals. NCR's growing exposures into ATM and self service kiosks spaces are encouraging, given tremendous growth prospects in the respective markets. Though stiff competition in ATM space, European exposure and high debt burden are concerns, we are optimistic on the stock given continuous products launches and synergies from acquisitions. We upgrade the stock from Neutral to Outperform.
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