Compass Point Downgrades NCR Corp. (NCR) to Neutral after Strong Run

January 29, 2013 7:21 AM EST
Get Alerts NCR Hot Sheet
Price: $41.59 -2%

Rating Summary:
    5 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Compass Point downgraded NCR Corp. (NYSE: NCR) from Buy to Neutral with a price target of $30.00.

The firm comments, "On July 18, 2012 we upgraded NCR at $24 and set our price target at $30. The shares have since appreciated ~17% to $28. In between then and now the shares traded down to ~$21 in October in part attributable to unexpected FCPA allegations, which remain unresolved. Since the October low the shares have appreciated ~32%. Following the strong run since October we are downgrading our rating to Neutral. Our $30 price target remains unchanged. While we remain optimistic heading into FY'13 forecasting 12% revenue growth to $6.5 billion driven by recent acquisitions of Retalix and Radiant Systems and see both FCPA resolution and reduced pension complexity as potential catalysts for improved sentiment, we hold to our $30 price target as fair and subsequently view the current risk/reward to be unattractive."

For an analyst ratings summary and ratings history on NCR Corp. click here. For more ratings news on NCR Corp. click here.

Shares of NCR Corp. closed at $28.00 yesterday.

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