Xerox price target raised to $19 from $17 at Loop Capital

Loop Capital raised the firm’s price target on Xerox to $19 from $17 and keeps a Hold rating on the shares. The stock has had a very positive reaction to its Q4 results last week, and the company’s underlying business is more solid than is generally understood, the analyst tells investors in a research note. Xerox has an eye on leveraging its customer-centric approach to expand the service revenue opportunities in each of its core businesses, the firm adds, noting that it also expects 2024 to be a “repositioning year” with focus on greater efficiency gains vs. incremental revenue.