Diebold Nixdorf (DBD) is likely to deliver another quarter of solid execution, healthy retail growth, and positive free cash flow, Wedbush said in a Monday note. The Q2 results are due July 29.

Revenue and EPS are expected to come in at $921 million and $1.04, respectively, compared with Wall Street view of $923 million and $1.10, to reflect the one-quarter repricing lag on retail memory costs and conservative assumptions around banking product delivery timing, according to the note.

Q2 should mark the seventh consecutive quarter of positive FCF for the company, which would be a sharp break from its recent history of sharp swings in quarterly cashflow and backend loaded fiscal years, the note said.

"With DBD's FCF generation, its ongoing repurchase program, an

improving earnings trajectory, and refinancing optionality all serving as potential re-rating catalysts, we remain constructive heading into the print," the report said.

Wedbush kept its outperform rating with a price target of $100.

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