Stifel analyst J. Parker Lane has revised the price target for NCR Voyix (VYX, Financial) shares, reducing it to $13 from the previous $15. Despite this adjustment, the analyst continues to rate the stock as a Buy.
The decision to amend the price target comes as the firm reevaluates its financial outlook for the company, recognizing that revenue and profits are expected to be weighted more heavily towards the end of the year. This aligns with recent statements made by NCR Voyix during their fourth-quarter earnings discussions.
The analyst also noted that the updated price target reflects a compression in valuation multiples for the stock, which influenced the adjustment. However, the continued Buy rating indicates confidence in the company's longer-term prospects despite these near-term revisions.
