Barclays maintains an 'Overweight' on Xerox (XRX); Focused on Execution
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Price: $2.84 -0.35%
Rating Summary:
6 Buy, 7 Hold, 5 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
6 Buy, 7 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Barclays maintains an 'Overweight' on Xerox (NYSE: XRX), PT $14.
Barclays analyst says, "We just hosted a lunch meeting with Xerox EVP & CFO Luca Maestri in NY. Key topics discussed included confidence in earnings and revenue targets, tone of business - particularly in Europe, an update on cost savings initiatives and puts and takes of cash flow. Maestri has only been at Xerox four months but seems to have a handle on all the major issues, and was able to make a compelling case for the company's guidance for revenues and costs in particular."
"The key takeaway of the meeting is that we believe Xerox remains focused on
execution with high confidence in its pipeline of cost reductions and the company remains committed to repurchasing $700 million in stock in 2H11. We believe it is business as usual in Europe for Xerox and checks indicate the company is not yet seeing signs weakness in the region (credit or demand)."
For more ratings news on Xerox click here and for the rating history of Xerox click here.
Shares of Xerox closed at $9.40 yesterday.
Barclays analyst says, "We just hosted a lunch meeting with Xerox EVP & CFO Luca Maestri in NY. Key topics discussed included confidence in earnings and revenue targets, tone of business - particularly in Europe, an update on cost savings initiatives and puts and takes of cash flow. Maestri has only been at Xerox four months but seems to have a handle on all the major issues, and was able to make a compelling case for the company's guidance for revenues and costs in particular."
"The key takeaway of the meeting is that we believe Xerox remains focused on
execution with high confidence in its pipeline of cost reductions and the company remains committed to repurchasing $700 million in stock in 2H11. We believe it is business as usual in Europe for Xerox and checks indicate the company is not yet seeing signs weakness in the region (credit or demand)."
For more ratings news on Xerox click here and for the rating history of Xerox click here.
Shares of Xerox closed at $9.40 yesterday.
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