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Fly News Breaks for February 12, 2020
Feb 12, 2020 | 07:03 EDT
Benchmark analyst Daniel Kurnos said shares of NCR Corp. are likely to come under some pressure today after the company gave 2020 EBITDA and EPS guidance that missed consensus. However, the "miss" comes entirely from the positive business transition from up front to recurring revenue licenses and a strong finish to 2019, argues Kurnos, would use any pullback as a buying opportunity. Given that this is a five year transition, it will take likely another two or so years to flip the headwinds to tailwinds, although none of this diminishes the opportunity in the "NCR-as-a-Service" shift, Kurnos tells investors. He maintains a Buy rating on NCR shares and raised his price target on the stock to $43 from $40.
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