UPDATE: JPMorgan Upgrades NCR Corp. (NCR) to Overweight

October 27, 2020 4:21 AM EDT
Get Alerts NCR Hot Sheet
Price: $44.40 +0.61%

Rating Summary:
    12 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - October 27, 2020 4:26 AM EDT)

(updating comment)

JPMorgan analyst Paul Coster upgraded NCR Corp. (NYSE: NCR) from Neutral to Overweight with a price target of $27.00.

The analyst comments "We rate NCR Overweight. NCR is trading at ~6.3x our CY21E EV/EBITDA, ~8.7x forward P/E, which are relatively in line with 3-year forward averages and well below peers. We believe this makes sense given the impact of COVID-19 on near- and medium-term prospects, though we sense revenues troughed in 2Q20, and think the multiple can re-rate as installations rebound, SCO demand accelerates, and possible POS rebounds next year post vaccine. The stock also looks quite attractive on FCF yield basis as we;;. We expect NCR to outperform our coverage universe over the next 6-12 months."

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

Shares of NCR Corp. closed at $21.09 yesterday.


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