NEW YORK (TheStreet) -- Xerox (XRX) shares were reiterated as an "overweight" rating and $15 price target by analysts at Morgan Stanley (MS) on Thursday.
The reiteration is an expression of confidence the firm has in the company's leadership following the ascension of Kathy Mikells to CFO in March 2013.
"We left with greater confidence that management clearly recognizes where XRX had issues in the past and understands how they can leverage their track records of success to drive consistent results going forward," said analysts.
Xerox shares are flat in pre-market trading at $13.71.
TheStreet Ratings team rates XEROX CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate XEROX CORP (XRX) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: