Jefferies Starts VeriFone (PAY) at Hold

February 8, 2013 7:11 AM EST Send to a Friend
Get Alerts PAY Hot Sheet
Price: $31.86 +0.31%

Rating Summary:
    8 Buy, 14 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 37 | Down: 17 | New: 30
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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.


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