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NCR shares jump after analyst predicts strong Blockbuster Express kiosk sales
December 14, 2009
Financial News USA reports that shares at NCR Corp. soared on Friday, after the company was upgraded by a JP Morgan analyst, who predicted a revenue boost from the Blockbuster Express kiosks NCR manufactures:
Analyst Paul Coster upgraded NCR to "Overweight" from "Neutral," but lowered his target price to $15 from $16. Coster said NCR will likely get a revenue boost from the Blockbuster kiosks it installs, even as its ATM operations stay flat. Coster said the company can realize a 5 percent growth in sales in 2010.
"End market conditions have not changed since the (third-quarter) conference call; retail is still very weak, but stable; financial services is stable and improving slowly," the analyst wrote in a note to investors. He doesn't expect the company's retail and ATM businesses to see much growth through 2013.
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