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Xerox: Credit Suisse Likes Strategy After the Split

January 6, 2017

By Tiernan Ray

Shares of Xerox (XRX) were one of the best performing stocks of this first day of trading of the new year, rising $1.14, or 21%, to close at $6.89, following completion of its IT services spin-out, the awkwardly named Conduent (CNDT), of which each Xerox holder has received one share for every five Xerox shares.)

Today’s jump in shares is based on an adjusted Xerox stock price, after the distribution of Conduent shares to Xerox holders. The actual close of Xerox’s historical shares on Friday, before the distribution, was $8.73.

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