Unisys price target lowered to $6.50 from $7 at Canaccord

Canaccord lowered the firm’s price target on Unisys (UIS) to $6.50 from $7 and keeps a Hold rating on the shares. The firm said while not necessarily showing up in guidance at this point, UIS continues to make solid progress on its growth initiatives. Its next-generation service revenue, which includes higher growth cloud-based and higher software content solutions, now comprise over 40% of the service revenue. This positive mix shift will continue, which, in turn, over time will drive growth and margins higher.