Zacks Investment Research upgraded shares of Unisys Corporation (UIS) from UNDERPERFORM to OUTPERFORM on October 27, 2014, with a target price of $28.00.
Unisys reported impressive third-quarter 2014 results, breaking its trend after several quarters of declining earnings and revenues. Its flagship ClearPath server line posted robust sales in the quarter, and contributed strongly to gross margin expansion. Also, increased market traction in its Stealth cybersecurity and Forward! server products boosted earnings. Unisys is also aligning its services and solution portfolio in keeping with the evolution in the IT industry. Going forward, the company's product portfolio has strong growth prospects as its end markets show solid potential. Despite stiff competition, foreign currency exposure, and continued pension obligations, we are bullish about the company's growth outlook. Hence, we are changing our long-term recommendation from Underperform to Outperform as we expect the stock to outperform the broader market.
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 Unisys Corporation (UIS),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment