1307 ET - Xerox will have to execute against a challenging backdrop in the print market if it wants to reach sustainable revenue growth and stronger core free cash flow, Citi analysts write in a note, downgrading the stock to sell. Though the company has made progress on integrating its acquisition of Lexmark, they write, that acquisition and other management efforts may not be sufficient to offset pressures in the cash generation of Xerox's core business. "Until Xerox demonstrates sustained organic revenue stabilization alongside margin expansion, stronger normalized FCF and meaningful deleveraging, we see an unfavorable risk/reward, supporting our Sell rating," the analysts write. Shares fall 6.8% to $2.72.
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