Brean Murray Carret Maintains Buy on Xerox (XRX)

BMC is out with its report today on Xerox XRX, maintaining Buy and a $14 PT. In its note to clients, BMC writes, "Our core Buy thesis remains unchanged as our L-T earnings power drivers essentially remain intact (listed below), although we were expecting $0.01 - $0.02 more from Xerox in the Dec Q and $0.01 on the Mar Q guide. This does, however, level-set expectations for 1H11 although it cost the stock 8% yesterday and could cap near-term appreciation." Shares of XRX closed yesterday at $10.53, down 7.63% from Tuesday's close.
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