BMO Capital Starts Conduent (CNDT) at Market Perform

BMO Capital initiates coverage on Conduent (NYSE: CNDT) with a Market Perform rating and a price target of $14.00.

Analyst Keith Bachman commented, "We are initiating coverage of Conduent with a Market Perform rating. We believe that CNDT has a long way to go to improving revenues and signings with its current offerings at the low end of the BPO market. Despite margin improvement potential from the company’s transformational cost savings initiative, cash flow generation remains weak in the near and medium-term which we believe will limit CNDT’s ability to diversify away from the low end of the BPO market. We think CNDT is unlikely to be acquired."

For an analyst ratings summary and ratings history on Conduent click here. For more ratings news on Conduent click here.

Shares of Conduent closed at $14.11 yesterday.

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