Citi has downgraded Xerox (XRX) to Sell from Neutral, cutting its price target to $2.50 from $3.45, citing concerns over free cash flow generation and the company’s valuation. According to TheFly, Citi says Xerox’s ability to achieve sustainable revenue growth and stronger free cash flow remains dependent on execution while operating in a structurally challenged print market. The downgrade adds another warning sign for Xerox as the company works to navigate declining traditional print demand, profitability pressures and a difficult industry environment. Click here for more info!
