Wedbush Morgan Reiterates an Underperform on VeriFone Holdings (PAY); Heartland Lawsuit May Have Negative
More News related to PAY
- VeriFone to Report Fourth Quarter and Fiscal 2009 Results on December 14, 2009
- VeriFone Announces VeriShield Protect for EMV Smart Cards
- VeriFone Commends ISO Community Response to Heartland Transition
- Heartland Expects its Merchants to Contact VeriFone for Direct Support
- VeriFone to Offer Continuous Support to Heartland Merchants
Wedbush Morgan reiterates an Underperform rating on VeriFone Holdings (NYSE: PAY); Price target $12.
Wedbush analyst says, "We believe VeriFone's current valuation reflects overly optimistic expectations...Heartland's lawsuit against VeriFone alleges anti-competitive behavior...Beyond the possible damages if VeriFone were to lose the suit, we believe this lawsuit may impact VeriFone in
the following ways: It may limit its ability to use its market power; It may limit its pricing in the U,S.; The suit draws attention to the new competitive encryption product...The lawsuit document itself could become sales material for Hypercom and Ingenico...Some investors may see this as the latest in a line of unusual behavior...Some investors may also question the lack of disclosure."
To see more analyst ratings on PAY Click Here.
VeriFone Holdings, Inc. designs, markets, and services electronic payment solutions that enable secure electronic payments among consumers, merchants, and financial institutions.
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