(CSC) Computer Sciences Corporation – Bear of the Day

Computer Sciences Corp. (CSC) is one of the leading players in the information technology (IT) services industry. We are apprehensive about the intense competition in the IT and cloud computing space from both small and big players such as Accenture and Hewlett-Packard.

Moreover, with government orders expected to dry up to a certain extent and the National Health Services realization getting pushed to future quarters, things look difficult for the company. Moreover, the demand for the company’s products in Europe is not encouraging for the upcoming quarters.

While we are positive on the company we are a bit concerned about the competition it faces from larger players and its high outstanding debt. We maintain an Underperform rating on CSC and set a price target of $27.00, representing a P/E of 5.9x our 2012 EPS estimate.

COMP SCIENCE (CSC): Free Stock Analysis Report

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