DXC Technology price target lowered to $18 from $27 at RBC Capital

RBC Capital lowered the firm’s price target on DXC Technology (DXC) to $18 from $27 and keeps a Sector Perform rating on the shares. The company reported a solid quarter with revenue and EPS above estimates, as well as showing improvement in its book-to-bill, though given an uncertain macro and its mix towards larger products, coupled with call outs of a weaker April in consumer and retail, DXC’s guidance underwhelmed, causing a negative reaction to the shares, the analyst tells investors in a research note.