Credit Suisse maintained its "Neutral" rating on Computer Sciences Corp. (CSC), a provider of information technology and business process outsourcing services, considering the near-term pressures within Managed Services Sector and Business Solutions and Services. However, the brokerage raised its price target, citing positive longer-term growth trajectory and improving market conditions.
Analyst B. Keane noted that the company's long-term milestones revealed at its Analyst day suggest a path of recovery. However, the analyst is skeptical as the company continues to face near-term headwinds with canceled contracts, slower booking ramps and the large-scale Lorenzo roll-out.
Credit Suisse raised the target price on the stock to $55 from $50, reflecting 11 times its CY10 earnings of $4.93.
CSC closed Thursday's regular trade at $54.46, down from the previous close of $54.99, on 1.02 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.