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: $15.80 +2.93%

Rating Summary:
    13 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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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.

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