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NCR shares jump after JP Morgan upgrade
December 13, 2009
Financial News USA reports that shares at NCR Corp. soared on Friday, after the company was upgraded by a JP Morgan analyst, who predicted a revenue boost from the Blockbuster Express kiosks NCR manufactures:
Analyst Paul Coster upgraded NCR to "Overweight" from "Neutral," but lowered his target price to $15 from $16. Coster said NCR will likely get a revenue boost from the Blockbuster kiosks it installs, even as its ATM operations stay flat. Coster said the company can realize a 5 percent growth in sales in 2010.
"End market conditions have not changed since the (third-quarter) conference call; retail is still very weak, but stable; financial services is stable and improving slowly," the analyst wrote in a note to investors. He doesn't expect the company's retail and ATM businesses to see much growth through 2013.
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