VeriFone (PAY) Bullish Stance Reiterated at Jefferies Post Q3

Jefferies analyst Jason Kupferberg reiterated a Buy rating and $43 price target on VeriFone (NYSE: PAY) following Q3 results including a nice top-line beat (driven by 7% outperformance in N. America) and EPS slightly ahead of estimates (hurt by a non-recurring warranty charge).

"We believe focus will be on initial F16 N. America guidance, which despite gigantic F15 growth, is still expected to be ~3% y/y and should be enough to ease EMV cliff concerns," Kupferberg commented. "Alongside our unchanged view on normalized earnings power, risk/reward looks very attractive."

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 $31.05 yesterday.

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