Is Xerox Corporation (NYSE:XRX) a Stock to Watch Now That Goldman Sachs Has Begun Covering It?


How Goldman Sachs Currently Rates Xerox Corporation (NYSE:XRX)

The research firm Goldman Sachs has have commenced coverage coverage on Xerox Corporation (NYSE:XRX)’s stock, rating it Neutral. This was sent to clients and investors in an analyst research report on 1 December.

From a total of 10 analysts covering Xerox Corporation (NYSE:XRX) stock, 6 rate it a ”Buy”, 2 a “Sell”, and 4 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $16.5 while the lowest target price is $9. The mean of all analyst targets is $12.25 with a 12.80% above today’s ($10.55) stock price. Xerox Corporation was the topic of 9 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Zacks downgraded shares on September 2 to “Sell” rating. TheStreet upgraded XRX stock in a recent report from August 17 to “Buy” rating.

Approximately 2,000 shares of stock traded hands. Xerox Corp (NYSE:XRX) has declined 10.06% since April 28, 2015 and is downtrending. It has underperformed by 8.44% the S&P500.

Xerox Corporation is engaged in offering business process and document management solutions. The company has a market cap of $10.76 billion. The Firm operates through the following divisions: Services, Document Technology and Other. It has 23.42 P/E ratio. The Company’s clients include small and midsize businesses , graphic communications companies, Governmental entities, educational institutions and Fortune 1000 corporate accounts.

According to Zacks Investment Research, “Xerox is the world’s leading enterprise for business process and document management. Its technology, expertise and services enable workplaces – from small businesses to large global enterprises – to simplify the way work gets done so they operate more effectively and focus more on what matters most: their real business. Headquartered in Norwalk, Conn., Xerox offers business process outsourcing and IT outsourcing services, including data processing, healthcare solutions, HR benefits management, finance support, transportation solutions, and customer relationship management services for commercial and government organizations worldwide. The company also provides extensive leading-edge document technology, services, software and genuine Xerox supplies for graphic communication and office printing environments of any size.” Get a free copy of the Zacks research report on Xerox Corp (XRX)