Citi Initiates Coverage on Computer Sciences (CSC) with a Sell
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Citi initiates coverage on Computer Sciences Corporation (NYSE: CSC) with a Sell. Price target $30.
Citi analyst says, "Our analysis indicates that IT vendor revenue growth lags in an economic recovery - in this context, CSC's relatively undifferentiated capabilities imply CSC may not sustain market share over the next 4-8 quarters. The recent management changes are good, but it may take them some time to start growing cash and earnings given the lack of near-term margin levers. These factors lead to our below-consensus revenue and EPS assumptions and a $30 target (a 23% downside to the current price)."
To see more analyst ratings on CSC Click Here.
Computer Sciences Corporation is a player in the information technology (IT) and professional services industry.
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