Stifel Likes VeriFone Systems (PAY) Into Earnings
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Stifel analyst, Christopher Brendler, reiterated his Buy rating on shares of VeriFone (NYSE: PAY) noting that he likes PAY shares into fiscal 3Q results this Thursday.
The analyst stated "Although it is difficult to be optimistic after the 2Q debacle and visibility remains painfully low, we like the low expectations as the stock has languished over the last three months. We also still have confidence in management as we still see a company heading in the right direction under CEO Galant, and given fading FX headwinds we would be surprised to see PAY lower guidance again. With additional upside possible from new product introductions and fading EMV bottleneck, we like the risk/reward into results".
No change to the price target of $26.00
Shares of VeriFone closed at $19.61 yesterday.
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