©Reuters
Goldman Sachs initiated coverage on NCR Voyix (NYSE:NYSE:) stock on Monday, assigning a Neutral rating and setting a price target of $14.00. The new price target suggests 11% upside potential for the stock. The company recognized the contrasting fundamentals within NCR Voyix’s three business segments, which include retail, restaurants and digital banking.
The coverage notes that while the company faces a challenging fundamental posture, strategic options are available that could potentially enhance shareholder value. This prospect comes after NCR Voyix completed the spin-off of its ATM business into a separate publicly traded entity, NCR Atleos. The action signals the company’s openness to strategic moves that could benefit its shareholders.
The analyst pointed out that NCR Voyix shares are currently trading at an attractive valuation of around 6 times estimated 2024 EBITDA. This valuation is considered very cheap by the company. The initiation of coverage and setting of the price target comes as NCR Voyix continues to navigate its trading environment and explore strategic opportunities.
In the report, Goldman Sachs delved into the company’s situation and its potential to leverage strategic actions to improve its market position. Despite acknowledging the challenges faced by NCR Voyix, the company’s setting of a Neutral rating indicates a balanced view on the stock’s prospects.
This article was generated with the support of AI and reviewed by an editor. For further information please see our T&Cs.