Barclays Reiterates an 'Overweight' on VeriFone (PAY) After Reviewing Q2 with Management
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Price: $23.72 +3.13%
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade PAY Now!
Barclays reiterates an 'Overweight' on VeriFone (NYSE: PAY) price target of $60.00.
Analyst, Darrin D. Peller, said, "...Following conversations with management over the past couple of days after 2Q earnings, we provide additional color on the key market concerns, including 1) currency impacts on guidance, 2) lighter-than-expected 2Q cash flows, and 3) flat 2Q organic growth in North America. Overall, with solid fundamentals in place (accelerating constant currency growth, considerable margin expansion as services offerings continue to ramp) despite this near-term noise, and with shares trading under 11x 2013 EPS, we believe the stock remains a strong buying opportunity."
For an analyst ratings summary and ratings history on VeriFone click here. For more ratings news on VeriFone click here.
Shares of VeriFone closed at $35.64 yesterday, with a 52 week range of $30.25-$55.89.
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Analyst, Darrin D. Peller, said, "...Following conversations with management over the past couple of days after 2Q earnings, we provide additional color on the key market concerns, including 1) currency impacts on guidance, 2) lighter-than-expected 2Q cash flows, and 3) flat 2Q organic growth in North America. Overall, with solid fundamentals in place (accelerating constant currency growth, considerable margin expansion as services offerings continue to ramp) despite this near-term noise, and with shares trading under 11x 2013 EPS, we believe the stock remains a strong buying opportunity."
For an analyst ratings summary and ratings history on VeriFone click here. For more ratings news on VeriFone click here.
Shares of VeriFone closed at $35.64 yesterday, with a 52 week range of $30.25-$55.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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