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Fly News Breaks for September 12, 2019
DXC
Sep 12, 2019 | 09:25 EDT
As previously reported, Evercore ISI analyst Rayna Kumar downgraded DXC Technology to In Line from Outperform following the announcement of Mike Lawrie's retirement as President and CEO. Lawrie's track record of strong operational execution had been a key reason for recommending DXC stock and while Kumar likes successor Mike Salvino, the analyst believes the timing of the announcement may suggest that things could get worse before getting better. Kumar reduced the price target on DXC shares to $34 from $63.
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