Underperforming NCR Stock Named RBC's Top Pick

NCR stock hit a nearly two-year low yesterday

by Josh Selway

Published on Dec 18, 2018 at 9:26 AM

NCR Corporation (NYSE:NCR) shares have been stuck in a two-year downtrend, falling from an early 2017 peak near $50 to Monday's close of $22.71. In more recent months, the 80- and 120-day moving averages have capped upside advances, and the stock just yesterday hit a nearly two-year low of $22.58.

RBC isn't worried, however. The brokerage firm already had an "outperform" rating on NCR, and just raised its opinion to make the stock its top pick, lifting its price target to $40 from $36 in the process. The analyst in coverage cited the equity's attractive risk-reward setup, and management's new focus on recurring revenue.

There are other bullish analysts outside RBC, too, with half those in coverage handing out "strong buy" ratings. Moreover, the average 12-month price target of $34.93 represents an almost 54% premium to current levels. Short interest is high, however, representing almost 8% of the total float. Going by average daily volumes, it'd take these bears 12 sessions to cover.


START YOUR SATURDAY SMARTER.


The best of Schaeffer's market analysis in a 5-minute weekly read.


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


16-Hour "Jump Trades" Unlock New Profit Potential
Click to continue to advertiser's site.
Why Dermira, Menlo Therapeutics are Red-Hot Today
The broader stock market is much lower this afternoon, though
Banks, Blue Chips Kick Off Earnings Season
Dow earnings are expected to come in droves again next week
16-Hour "Jump Trades" Unlock New Profit Potential
Click to continue to advertiser's site.