BMO Capital Maintains a 'Market Perform' on Xerox (XRX); Cutting Estimates on Challenging Macro
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Price: $3.10 -1.27%
Rating Summary:
5 Buy, 7 Hold, 5 Sell
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 7 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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BMO Capital maintains a 'Market Perform' on Xerox (NYSE: XRX).
Analyst, Keith Bachman, said, "For XRX, we are lowering our estimates owing to our concerns about the printing business in a challenging macro environment for discretionary spending. We are lowering our FY12 EPS to $1.11 from $1.14 (consensus of $1.12) and our FY13 estimates to $1.19 from $1.23 (consensus of $1.21). We maintains our rating on XRX as we think that headwinds in the printing business will mute any revenue upside from strong services performance in FY12. However, we think that early signs of improvement in the services business will be viewed favorably by the investors, in our view."
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 $7.67 yesterday.
Analyst, Keith Bachman, said, "For XRX, we are lowering our estimates owing to our concerns about the printing business in a challenging macro environment for discretionary spending. We are lowering our FY12 EPS to $1.11 from $1.14 (consensus of $1.12) and our FY13 estimates to $1.19 from $1.23 (consensus of $1.21). We maintains our rating on XRX as we think that headwinds in the printing business will mute any revenue upside from strong services performance in FY12. However, we think that early signs of improvement in the services business will be viewed favorably by the investors, in our view."
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 $7.67 yesterday.
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