That’s fine, but the logic has a few flaws. Goldman maintains their Neutral rating on the stock, noting today that the company’s turnaround efforts appear to be gaining traction, but that the good news is offset by continued declined in hardware orders and weak margin and cash flow trends. For the stock to work longer term, the company needs to realize cost savings from restructuring, stabilize its hardware business and gain traction in its services business, Goldman says. The firm’s price target on Unisys shares is $6.10, “suggesting 18% potential downside from current levels.” So here’s the thing: if they thought it was a short before, and not much has changed fundamentally, now they should REALLY like it as a short. No guts, no glory.
Unisys shares today are up a cent at $7.41.
UIS 1-yr chart: