Revising Lexmark Price to $37 Per Share

A look at its financial statements indicates that the debt it took to finance the acquisition of Kofax has left the company cash strapped. This is negatively impacting our valuation of the company. Furthermore, apart from the negative impact from exiting inkjet industry, its laser printer division has been unable to buck the downward trend in the world wide printer hardware industry. However, the company is aggressively building its software business to diversify from the flagging printer indust...