The following appears on thestreet.com
Xerox (XRX) stock surged on Tuesday on upgrades by both Credit Suisse and JPMorgan after the digital print technology company successfully completed the spinoff of its former business process services
Shares of Xerox closed at about $8.73 on Dec. 30, and were adjusted to $5.75 post-split. The stock was spiking about 15.7% to $6.66 in afternoon trading on Tuesday.
JPMorgan analyst Paul Coster said on Tuesday that the move “marks the start of a long turnaround process” at the Norwalk, Conn.-based Xerox. He upgraded the shares to “overweight” from “neutral” and raised his price target to $10.50 from $10 previously.
“Next up, we should see several constructive developments…
