Credit Suisse Upgrades Xerox (XRX) to Outperform

Credit Suisse upgraded Xerox (NYSE: XRX) from Neutral to Outperform with a price target of $10.00 (from $8.00) post the Conduent spin-off.

Analyst Kulbinder Garcha commented, "Post the Conduent spin-off, we are upgrading XRX to Outperform, taking into account a more focused print business, potential upside to cost savings, strong management and a well laid out long-term strategy to offset end market decline. We forecast XRX stand-alone FY17/18 EPS at $0.89/$0.90, and upgrade to Outperform."

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

Shares of Xerox closed at $8.73 yesterday.

You May Also Be Interested In

• MarineMax (HZO) PT Lowered to $35 at Stifel
• Bristol-Myers Squibb Co. (BMY) PT Lowered to $64 at Truist Securities
• META to capture largest share of users, SNAP to benefit from ad budget shifts - Canaccord Genuity weighs in on TikTok ban