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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 Send to a Friend
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Price: $32.65 --0%

Rating Summary:
    9 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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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