Market News / Story
Why Xerox (XRX) Shares Are Trading Lower Today
Stock Story ·
Stock Story reports: What Happened? Shares of document technology company Xerox fell 3.8% in the morning session after Citi downgraded the company to Sell from Neutral with a $2.50 price target. Citi analyst Asiya Merchant lowered her rating and cut the price target to $2.50 from $3.45, implying approximately 17% downside from the previous session’s $3.01 close, in research reported by StreetInsider. Merchant highlighted mounting execution risks in Xerox's reinvention strategy, noting…