Mixed sentiment for Conduent stock with analysts
Some analysts have recently changed their outlooks on New York-listed firm Conduent, a major global outsourcing services company. SunTrust Banks cut its price target on company to US$18 per share, and gave the stock a “buy” rating in a research note issued last November. Morgan Stanley, however, has set a US$16 price target on Conduent stock, but rated the company with a “hold” in its research note issued in the same month as SunTrust. ValuEngine downgraded Conduent from a “hold” rating to a “sell” in a research note, also in November. In the following month, Zacks Investment Research changed its “hold” rating to a “strong sell” rating; and TheStreet downgraded Conduent from a “c-” rating to a “d+” rating in a research note, also in December. According to a Fairfield Current report, one equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating. Conduent has an average rating of “Hold”, and an average target price of US$21.57. On Monday 18 January, Conduent stock opened at US$13.59.