BMO Capital Cuts Estimates and PT on Computer Sciences (CSC): Taking Appropriate Steps, But Time Will Tell
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Price: $69.01 --0%
Rating Summary:
5 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
Rating Summary:
5 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
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BMO Capital maintains a 'Market Perform' on Computer Sciences (NYSE: CSC) price target lowered from $33 to $29.
Analyst, Keith Bachman, said, "CSC shared its plans for improving its operational performance, including a plan to reduce expense by about $1 billion in the next 12-18 months. Further, CSC indicated that business review has highlighted about 40 troubled contracts which need to be addressed by CSC."
Bachman thinks CSC is taking the appropriate steps , however, he lowers FY13 EPS estimate from $3.58 to $2.29 and FY14 from $4.00 to $3.28. By FY14, if earnings increased by another $0.30, Bachman would look to get more constructive on the stock.
For an analyst ratings summary and ratings history on Computer Sciences click here. For more ratings news on Computer Sciences click here.
Shares of Computer Sciences closed at $25.77 yesterday.
Analyst, Keith Bachman, said, "CSC shared its plans for improving its operational performance, including a plan to reduce expense by about $1 billion in the next 12-18 months. Further, CSC indicated that business review has highlighted about 40 troubled contracts which need to be addressed by CSC."
Bachman thinks CSC is taking the appropriate steps , however, he lowers FY13 EPS estimate from $3.58 to $2.29 and FY14 from $4.00 to $3.28. By FY14, if earnings increased by another $0.30, Bachman would look to get more constructive on the stock.
For an analyst ratings summary and ratings history on Computer Sciences click here. For more ratings news on Computer Sciences click here.
Shares of Computer Sciences closed at $25.77 yesterday.
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