Xerox price target lowered to $11 from $13 at JPMorgan

JPMorgan analyst Samik Chatterjee lowered the firm’s price target on Xerox (XRX) to $11 from $13 and keeps an Underweight rating on the shares ahead of the Q3 report. Heading into earnings, Xerox continues to “face an uphill battle of assuaging investor concerns” around the structural headwinds in the print market, the analyst tells investors in a research note.