DXC Technology downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analyst Daniel Perlin downgraded DXC Technology to Sector Perform from Outperform with a price target of $29, down from $34, post the fiscal Q1 results. Given the pressure on demand, the “disappointing” results, and guidance reduction, the analyst expects the shares to be weak today and then relatively range-bound for the foreseeable future. As such, RBC downgraded DXC following the earnings report.