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Fly News Breaks for November 7, 2016
XRX
Nov 7, 2016 | 08:11 EDT
As previously reported, Morgan Stanley downgraded Xerox to Underweight from Equal Weight and lowered its price target to $9.50 from $11.50. Analyst Brian Essex said bot the BPO and DocTech businesses are facing secular pressures and said the Conduent spinco will add $2B of net incremental leverage and faces headwinds in both growth and pricing and will need to focus on margin expansion to drive shareholder value.
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