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Fly News Breaks for May 9, 2019
CNDT
May 9, 2019 | 08:43 EDT
Needham analyst Mayank Tandon lowered his price target on Conduent to $14 after the company missed on revenue, margins and earnings in Q1. The analyst states that the pressure on volumes at a large account as well as weak new bookings also factored in the management's 2019 guidance cut. Tandon is keeping his Buy rating on Conduent stock based on its valuation, saying there is "limited downside" at 6-times enterprise value to his expected FY19 EBITDA.
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