Report
Timothy Feeney
EUR 147.86 For Business Accounts Only

Relaunching Coverage of Xerox With No Economic Moat, Negative Trend, and Fair Value of $11

We are relaunching coverage on Xerox with a fair value estimate of $11 per share and no-moat and negative moat trend ratings. Xerox is a leading provider of printing equipment and supplies as well as outsourced business and printing services for small- to medium-sized businesses and large enterprises. However, we believe that the future of the company’s printing equipment business is bleak as mobile devices serve as an alternative to print. While we like Xerox’s move to expand its offering in ma...
Underlying
Xerox Holdings Corporation

Xerox is a provider of digital print technology and intelligent work solutions. The company operates in three main areas: Intelligent Workplace Services, which includes a continuum of solutions and services consisting of managed print services, industry digital solutions, personalization and communication software, content management solutions, and digitization services; Workplace Solutions, which is made up of two product groups, Entry and Mid-Range, which share common technology, manufacturing and product platforms; and Production Solutions, which enable full-color, on-demand printing of a range of applications, including variable data for personalized content and one-to-one marketing.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Timothy Feeney

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