In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Hold rating on DXC Technology Company (DXC), with a price target of $70. The company’s shares opened today at $54.50.
Foresi said:
“We maintain our Neutral rating and $70* PT. DXC announced plans to acquire LXFT (OW). We view the acquisition as a “Win, Win”. DXC performed a “Catch Up” acquisition. DXC acquires much needed Digital capabilities through LXFT, increasing DXC’s competitiveness in an area it had fallen behind. LXFT finds a larger partner to help it manage its way through challenges with its major customers and extend its reach. We note the acquisition does not initially have a significant impact on DXC’s results, so proof will be in the longer term execution. See pg. 2 for our proforma.”
According to TipRanks.com, Foresi is a top 100 analyst with an average return of 12.8% and a 62.6% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Exlservice Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for DXC Technology Company with a $82.86 average price target.
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DXC Technology Company’s market cap is currently $16.12B and has a P/E ratio of 8.91. The company has a Price to Book ratio of 1.40.
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DXC Technology Co. provides technology consulting, outsourcing and support services. It operates through the following segments: Global Business Services (GBS), Global Infrastructure Services (GIS) and United States Public Sector (USPS).
