Goldman Sachs Upgrades VeriFone (PAY) to Buy, Sees 26% Upside
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Price: $16.17 +2.67%
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade PAY Now!
Goldman Sachs upgraded VeriFone (NYSE: PAY) from Neutral to Buy with a price target of $63, suggesting 26% upside.
The firm said VeriFone is one of the direct investments in the multi-year terminal upgrade cycle resulting from emerging payment technologies.
Goldman sees the biggest opportunity is the U.S., as the country moves to adopt chip-based cards using the EMV standard away from magnetic stripes. They see the total market opportunity at $3.4 billion, with VeriFone addressable portion at $1 billion over the next 5 years.
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 $50.01 yesterday, with a 52 week range of $30.25-$56.48.
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The firm said VeriFone is one of the direct investments in the multi-year terminal upgrade cycle resulting from emerging payment technologies.
Goldman sees the biggest opportunity is the U.S., as the country moves to adopt chip-based cards using the EMV standard away from magnetic stripes. They see the total market opportunity at $3.4 billion, with VeriFone addressable portion at $1 billion over the next 5 years.
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 $50.01 yesterday, with a 52 week range of $30.25-$56.48.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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