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DXC

DXC Technology

$29.39

-0.69 (-2.29%)

17:38
11/11/19
11/11
17:38
11/11/19
17:38

DXC Technology to pursue strategic alternatives for three businesses

Says as part of exploration of strategic alternatives, it is putting up for sale three businesses: the U.S. state and local health and human services business, the horizontal BPS business, and the workplace and mobility business. Says assuming that the sale of the three businesses, which combined represent about 25% of DXC's total revenue, will be able to generate net capital proceeds of roughly $5B. Says by executing strategic alternatives, it will create a "more focused portfolio," and that excluding those three businesses, by FY22 it would expect the company to have more than $15B of revenue, with at least half of the revenue coming from digital offerings. Says expects to eploy $4.25B or more to repurchase shares and pay dividends over the next ten quarters. Says expects to redecue debt by over $2.5B as the company continues to pursue a "balanced capital allocation approach and protect" its investment grade credit profile with the target debt to EBITDA of two times or less in FY22. Says in FY22 expects at least $7 per share of adjusted EPS and at least $5.25 of EPS after restructuring, transaction and integration costs. Comments taken from Q2 earnings conference call.

  • 11

    Nov

DXC DXC Technology
$29.39

-0.69 (-2.29%)

09/12/19
EVER
09/12/19
DOWNGRADE
Target $34
EVER
In Line
Evercore ISI downgrades DXC Technology to In Line following CEO exit
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.
09/12/19
09/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Square (SQ) assumed with a Hold from Buy at Canaccord with analyst Joseph Vafi saying the stock will continue to react to changes in payment volume growth, which has been showing steady deceleration. 2. Deere (DE) and Caterpillar (CAT) were downgraded to Market Perform from Outperform at Wells Fargo. 3. Prudential (PRU) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Alex Scott saying Voya Financial (VOYA) has a better ability to beat earnings estimates in the near term as well as in 2020 and 2021 relative to Prudential. 4. Invesco (IVZ) downgraded to Neutral from Overweight at JPMorgan with analyst Kenneth Worthington saying continued Oppenheimer outflows "show few signs of slowing," making it unlikely for the stock to outperform despite a cheap valuation. 5. DXC Technology (DXC) was downgraded to In Line from Outperform at Evercore ISI and to Neutral from Positive at Susquehanna. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/26/19
WELS
09/26/19
NO CHANGE
Target $32
WELS
Market Perform
DXC Technology price target lowered to $32 from $46 at Wells Fargo
Wells Fargo analyst Ed Caso raised his price target for DXC Technology to $32 from $46 given the recent unexpected and abrupt resignation of CEO Mike Lawrie and the immediate shift to new CEO Mike Salvino. The analyst notes that investors are increasingly concerned whether DXC can actually revive organic growth without meaningfully reducing the EBITDA margin outlook, while Caso remains concerned about further reductions in the financial outlook. He expects the shares to remain volatile around current levels, and reiterates a Market Perform rating on the stock.
10/08/19
MOFT
10/08/19
NO CHANGE
Target $36
MOFT
Neutral
DXC Technology price target lowered to $36 from $43 at MoffettNathanson
MoffettNathanson analyst Lisa Ellis noted that DXC Technology shares are down 70% over the past twelve months and the company now has a new CEO, making it a good time in her opinion to "hit the 'reset' button" and focus on what is next to come for the company rather than what has already happened. Given her view of the company's revenue, margin and free cash flow outlook Ellis maintains a Neutral rating on the stock and lowered her price target on DXC shares to $36 from $43.

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