UPDATE: JPMorgan Upgrades Xerox (XRX) to Neutral
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JPMorgan analyst Paul Coster upgraded Xerox (NYSE: XRX) from Underweight to Neutral with a price target of $38.00 (from $31.00).
- Says upgrade follows model update to reflect Fuji-Xerox divestiture and a revision of the PT to 2020 numbers.
- "Now that we have caught up with the action, we think the stock is trading close to fair value, however we do see catalysts to the upside and downside in the very near term."
Shares of Xerox closed at $38.36 yesterday.
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