Xerox raised to outperform by BMO Capital Markets
NEW YORK (MarketWatch) — Xerox Corp. was upgraded to an outperform rating from market perform by BMO Capital Markets on Monday. Analyst Keith Bachman cited positive year-over-year growth in revenue, improving operating margins and a “more balanced” capital allocation that could lead to expansion in 2013. “After several years of inconsistent results, we believe that XRX can improve execution across a variety of metrics that can move the shares higher,” he said in a note. BMO raised its target price to from .50. Shares were up 1.7% to .06 at 10:25 a.m. Eastern time.
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