Wedbush Morgan Upgrades VeriFone Holdings (PAY) to Hold; Risks Appear to be Understood
PAY Hot Sheet
Rating Summary:7 Buy, 2 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
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.
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.
You May Also Be Interested In
- UBS Maintains a 'Neutral' on VeriFone (PAY); Europe Demand Healthy, but FX Emerges as Headwind
- Pre-Open Movers 5/25: (BLOX) (FRO) (QSFT) Higher; (TLB) (ROSG) (DCTH) Lower (more...)
- UPDATE: Williams Financial Group Upgrades Semtech Corp. (SMTC) to Buy; Check Again...Quarter Was Fairly Strong
Create E-mail Alert Related Categories
UpgradesRelated Entities
Wedbush MorganSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
