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XRX

Xerox

$25.18

0.02 (0.08%)

12:20
07/13/18
07/13
12:20
07/13/18
12:20

Xerox exploring sale of leasing finance unit to cut down debt, Reuters reports

Xerox Corp is exploring the potential sale of a leasing unit to relieve the company of roughly $3.6B in debt in hopes of making itself more attractive to potential acquirers, people familiar with the matter told Reuters. Xerox shares briefly spiked following the report but have given up much of the gains to be up 0.5% at $25.30 near noon. Reference Link

XRX Xerox
$25.18

0.02 (0.08%)

07/10/18
STPT
07/10/18
UPGRADE
STPT
Buy
Xerox upgraded to Buy from Hold at Standpoint Research
05/16/18
LOOP
05/16/18
NO CHANGE
Target $40
LOOP
Buy
Xerox price target lowered to $40 from $45 at Loop Capital
Loop Capital analyst Ananda Baruah lowered his price target on Xerox (XRX) to $40, citing the potential operating disruptions from the company's leadership "saga" and the firm position by Fujifilm (FUJIY) not to raise its bid price. The analyst says his new price is based on the stand-alone value of the company with no added potential deal related benefits. Baruah also keeps his Buy rating on Xerox, adding that there is a greater "appreciation" by the recently appointed CEO John Visentin to pass on more cost savings toward profitability.
05/14/18
05/14/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Dean Foods (DF) downgraded to Sell from Hold at Deutsche Bank analyst Rob Dickerson saying he still sees four fundamental challenges facing the company: continued declines in U.S. dairy milk consumption, its low-margin structured business, increasing vertical category integration by retailers, and what he views as low odds of transformative acquisitions. 2. Owens Corning (OC) downgraded to Market Perform from Outperform at Wells Fargo with analyst Stephen East saying his outlook for Roofing and Composites has weakened and extremely weak year to date 2018 hail/storm activity is likely an incremental headwind to 2H18 Shingle Volumes while inflationary cost pressures are more intense than originally expected. 3. Xerox (XRX) downgraded to Neutral from Overweight at JPMorgan and to Hold from Buy at Cross Research. 4. Jeld-Wen (JELD) downgraded to Neutral from Buy at BofA/Merrill with analyst John Lovallo saying he believes the company will face challenges from the CEO search, Steves & Sons litigation, wood windows, and believes a margin recovery could take longer than expected. 5. Hostess Brands (TWNK) downgraded to Hold from Buy at Deutsche Bank with analyst Rob Dickerson saying he is less certain on the base business' potential margin and profitability progression over the next twelve months following the company's recent earnings report. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/14/18
JPMS
05/14/18
DOWNGRADE
Target $38
JPMS
Neutral
Xerox downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Paul Coster downgraded Xerox to Neutral from Overweight as he believes it is unlikely that the new board will find an alternative acquirer for Xerox in the next few months after the company terminated its planned merger with Fuji-Xerox. Meanwhile, he sees Xerox being at risk of losing key enterprise accounts and sees more risk, particularly for the JV with Fuji-Xerox. Coster keeps a $38 price target on Xerox shares.

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