Wedbush Morgan Upgrades VeriFone Holdings (PAY) to Hold; Risks Appear to be Understood
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Wedbush Morgan upgrades VeriFone Holdings (NYSE: PAY) from Sell to Hold.
Wedbush analyst says, "We continue to believe that VeriFone's sustainable profitability as measured by FCF/share will be in the $0.45-0.55 range going forward, thus implying further downside to shares. However, we believe that investors are now more aware of the unique risks from VeriFone's financial reporting, SEC investigation and debt load. Therefore, we believe these risks are now better reflected in the share price and are upgrading shares from SELL to HOLD...Large inventory write-downs create opportunity for short-term."
To see more analyst ratings on PAY Click Here.
VeriFone Holdings, Inc. (VeriFone) is engaged in secure electronic payment solutions. The Company provides solutions and services that add value to the point of sale (POS) with merchant-operated, consumer-facing, and self-service payment systems for the financial, retail, hospitality, petroleum, transportation, government and healthcare vertical markets.
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