Market News / Story
Why Xerox (XRX) Shares Are Getting Obliterated Today
Stock Story ·
Stock Story reports: What Happened? Shares of document technology company Xerox fell 6% in the morning session after Investors continued to bid down on Citi’s downgrade from Thursday. According to TheFly, analyst Asiya Merchant cut the stock to Sell from Neutral and lowered the price target to $2.50 from $3.45. She cited concern about free-cash-flow generation and the stock’s valuation. She told investors that a path to lasting revenue growth and stronger free cash flow still depends on…