Brean Murray Has Buy On Xerox (XRX)

Brean Murray Carret & Co. has a Buy rating and a $14 price target on shares of Xerox Corporation XRX. In a note to clients, Brean Murray writes, "We hosted meetings with Xerox and want to remind investors of key points commensurate with our “Buy Reiteration” call coming off of Dec Q earnings. As a Top Pick, we continue to like the stock at these levels, while acknowledging it could pause, trading at a 10x P/E now past earnings in the seasonally softer 1H11. That said, we believe there is line-of-sight to perhaps $1.30 in 2012 EPS with 2011 still possessing upside potential to the Street consensus EPS of $1.30 (at 10x suggest a $13 stock;) we'd certainly be buying any pull-backs and would be looking to position long ahead of 2H11 when 1) we believe meaningful EPS beats become more likely and 2) 2012 EPS starts to become a focus." At last check, shares of Xerox were up 1 cent to $10.85.