Xerox (XRX) PT Lowered to $8 at Loop Capital

Loop Capital analyst Ananda Baruah lowered the price target on Xerox (NASDAQ: XRX) to $8.00 (from $11.00) while maintaining a Hold rating.

The analyst commented: "We are maintaining our Hold and lowering our PT to $8 from $11 after XRX reported Sep Q EPS on 10/29. XRX is progressing through its reinvention plan which is continuing to have an operational impact, Sep Q manifesting in product launch delays and sales productivity impact. Organic revenue declines are moderating, and XRX is optimistic about its trajectory for its digital & IT services, which they noted are resonating with customers evidenced by double-digit new business signings and 100% retention rates."

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