Barclays Maintains an 'Overweight' on Xerox (XRX); Focus on Document Outsourcing, One of the Fastest Growing Segments for XRX

Barclays maintains an 'Overweight' on Xerox (NYSE: XRX) price target of $11.00.

Barclays analyst says, "Xerox hosted a Document Outsourcing Services briefing today (11/16) featuring speakers including Stephen Cronin (President, Global DO), Jim Joyce (SVP, Business Development), and Darren Cassidy (SVP, Print & Partner Services). This business accounts for 33% of total Xerox Services revenue and 16% of total revenue, and its origins lie in the traditional Xerox - pre-ACS. As a reminder, Xerox closed the acquisition of business process outsourcing leader, ACS, in February 2010 for over $6 billion - a controversial acquisition at the time, which seems to be bearing fruit for investors by leading to synergies with the document outsourcing division, among others. Outside of Document Outsourcing (DO), we estimate that ACS will generate revenue of more than $7.3 billion in 2011, or over 32% of Xerox's total of $22.7 billion. Combining DO and ACS, Services overall currently represents about half of Xerox's total revenue."

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 $8.02 yesterday.

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