EDS Back on Track
Stock quotes in this article:
EDS
After several years of struggle, Electronic Data Systems (EDS Quote) appears to have turned a corner.
Shares in the Plano, Texas-based IT services giant recently broke through peaks set a year ago, as investors are gaining confidence that the company has started to focus on clearing the way to further growth. "The company has gotten through a number of problems, and they've gotten their house in order," says Standard & Poor's equity analyst Dylan Cathers. "They've finished restructuring, steadily increased their offshore capabilities, and their balance sheet is in shape." EDS set a recent 52-week high last month following a meeting with analysts that sparked an upgrade by RBC Capital's Cynthia Houlton. "Our rating change and higher price target reflect a shift by the company to growth for the first time since 2002," Houlton wrote. She raised her price target to $33 from $26. Her firm has provided EDS with nonsecurities services in the past 12 months. On Tuesday, EDS closed up 1.5% to $27.78 after pulling back nearly 7% from its 52-week high of $29.94. In its latest quarter, EDS beat the Street's forecast on the top and bottom lines and nearly doubled its profit over the comparable period in 2005. Signings hit $7.6 billion for the quarter vs. $5.3 billion in the same period last year.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,462.21 | 1,107.75 | 2,173.90 | 32.40 |
Oil *
79.39
|
|
UP
117.37
|
UP
12.12
|
UP
29.30
|
UP
0.39
|
10 Yr
3.24%
SPDR Gold
117.72
|
|
+1.13%
|
+1.11%
|
+1.37%
|
+1.22%
|
Data delayed 20 minutes |














