Zacks Investment Research upgraded shares of Unisys Corporation (UIS) from UNDERPERFORM to NEUTRAL on February 04, 2013, with a target price of $24.00.
Unisys provides IT services, software, and technology that solve mission-critical problems for clients across the globe. We are upgrading our recommendation on Unisys from Underperform to Neutral driven by healthy fourth quarter results with earnings well exceeding the Zacks Consensus Estimate. Despite the continued challenging macroeconomic environment, Unisys recorded strong sales of its ClearPath software and servers. At the same time, Unisys has also been restructuring its business to improve profitability in the long run. However, increased competition, foreign currency exposure, and pension obligations could drag down its profitability by some extent.
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