NCR Voyix: Progress Amidst Challenges Justifies Hold Rating with Increased Price Target

Analyst Erik Woodring of Morgan Stanley maintained a Hold rating on NCR Voyix (VYX – Research Report), boosting the price target to $12.00.

Erik Woodring has given his Hold rating due to a combination of factors that reflect both progress and challenges for NCR Voyix. The company has shown tangible advancements in its strategic goals, such as modernizing customer enterprises and expanding its business, which is evident from the addition of new customers and growth in platform and payment sites. These positive developments have led to an increase in the price target from $9 to $12.
However, despite these advancements, there are still significant challenges, particularly in the hardware segment, where revenue continues to decline. While these declines were anticipated and are not primarily due to macroeconomic factors, they still pose a challenge. The transition with Enoconn is on track, which should help mitigate hardware issues in the future. Overall, while the company is making progress, the need for improved growth rates and clearer disclosures in 2026 justifies maintaining a Hold rating.