Argus Downgrades VeriFone (PAY) to Hold
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Argus downgraded VeriFone (NYSE: PAY) from Buy to Hold on a weaker outlook.
The firm now expects revenue to be flat in FY16, down from their prior forecast of 5% growth. They are lowering their FY16 EPS forecast to $1.66 from $1.85 and their FY17 estimate to $1.79 from $2.17.
Shares of VeriFone closed at $16.81 yesterday.
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