Xerox price target raised to $17 from $15 at Loop Capital

Loop Capital analyst Ananda Baruah raised the firm’s price target on Xerox to $17 from $15 and keeps a Hold rating on the shares after its Q4 earnings beat. The company has demonstrated an ability to weather the challenging macro backdrop, and continues to see solid order trends, the analyst tells investors in a research note. While Xerox is guiding for a revenue decline in 2023, there is prudence built into the outlook and there remains a healthy backlog to underpin it, Loop Capital added.