Wolfe Research analyst Michael O’Brien initiated coverage of NCR Atleos with an Outperform rating and $30 price target. The analyst cites the company’s “cheap” valuation and organic growth prospects as it transforms from an asset-heavy to an asset-light software / service business for the Outperform rating. The fir says NCR Atleos is now better equipped to execute on its growth strategy. The company’s “dominant” market share places it in a strong position to transition institutional clients over to its product suite as financial institutions continue to outsource operational expenses, contends Wolfe.
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