Jefferies Starts VeriFone (PAY) at Hold
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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!
Jefferies initiates coverage on VeriFone (NYSE: PAY) with a Hold. PT $36.00.
The firm comments, "After the stock's recent move, we think the bull and bear cases on PAY net out, and we initiate with a Hold rating. We think PAY is unlikely to be broadly disintermediated by new entrants, but we do believe the rapid acceleration in pace of POS technology change is materially increasing the complexity of PAY's business, thereby elevating the degree of execution risk."
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 $35.18 yesterday, with a 52 week range of $27.33-$55.89.
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The firm comments, "After the stock's recent move, we think the bull and bear cases on PAY net out, and we initiate with a Hold rating. We think PAY is unlikely to be broadly disintermediated by new entrants, but we do believe the rapid acceleration in pace of POS technology change is materially increasing the complexity of PAY's business, thereby elevating the degree of execution risk."
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 $35.18 yesterday, with a 52 week range of $27.33-$55.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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