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Fly News Breaks for December 19, 2019
Dec 19, 2019 | 08:47 EDT
RBC Capital analyst Daniel Perlin raised his price target on NCR Corp to $48 and kept his Top Pick rating, saying the company has entered a new stage of its multi-year transition from license to recurring revenue model, which should result in "better execution, improving returns, and higher cash conversion over time." While he lowers his expected FY20 revenue to $6.86B from $6.94B, he sees recurring revenue accelerating from 46% this year to 57% in FY21 and ultimately 68% by FY25.