UBS Upgrades VeriFone (PAY) to Buy; Several Factors Drove Recent Re-rating, But Still Long-Term Secular Opportunity

June 18, 2012 7:21 AM EDT
Get Alerts PAY Hot Sheet
Price: $18.34 --0%

Rating Summary:
    11 Buy, 17 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade PAY Now!
Join SI Premium – FREE
UBS upgraded VeriFone (NYSE: PAY) from Neutral to Buy. PT cut from $48 to $37.

Analyst, John T. Williams, said, "We believe that the 44% sell-off over the last month (vs. the S&P 500 -4%) has set up a solid entry point at an attractive multiple for medium-term investors."

UBS cut FY12/13 EPS estimate by $0.02 each, to $2.65 and $3.27, respectively.

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 $30.46 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst EPS Change, Analyst EPS View, Analyst PT Change, Upgrades

Related Entities

UBS, Standard & Poor's

Add Your Comment