Computer Sciences (CSC +5.4%) opens higher after receiving an upgrade to Buy from Deutsche,...


Computer Sciences (CSC +5.4%) opens higher after receiving an upgrade to Buy from Deutsche, which thinks the IT services firm's turnaround will lead to normalized EPS of $5+ faster than expected. Deutsche also notes CSC trades at a mere 3.5x estimated calendar 2013 EV/EBITDA, well below the 8.4x multiple assigned to its peer group. The firm now expects FY14 EPS of $3.51, above a consensus of $3.28.
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