NCR Corp. Big with ATMs

NCR Corporation (NCR - Analyst Report) is a large, well-established global technology firm with a diversified product base. NCR and its subsidiaries provide technology and solutions for the retail and financial industries.

Continued momentum in the ATM business as well as positive currency benefits have driven growth and led NCR Corp. to post gains in Financial Self-Service, its largest division. The company has also posted meaningful growth in the retail segment through increased orders.

We are encouraged that the company is posting earnings growth through improved top-line growth, which we believe is sustainable for the foreseeable future as its customers seek to cut costs through increased automation. However, concerns regarding an economic slowdown remains, leading us to our conservative estimates for fiscal 2009 and 2010.

We have maintained our Buy rating on NCR shares but have lowered our six-month price target to $22.00.

Read the full analyst report on NCR