VeriFone (PAY) PT, Estimates Raised at Wedbush Following 'Beat and Raise' Quarter

Wedbush analyst Gil Luria reiterated an Outperform rating and boosted his price target on VeriFone (NYSE: PAY) to $47.00 (from $45.00) following 'beat and raise' quarter with the company set-up well for several more quarters.

Luria commented, " We believe VeriFone will sustain HSD (constant currency) revenue growth and mid teen earnings growth based on healthy global market growth, 2-3 year EMV/NFC cycle and 3-5 years of margin improvements."

The firm raised FY15 estimate to $1.86 from $1.84 based on better results.

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 $38.35 yesterday.

You May Also Be Interested In

• TechnipFMC (FTI) PT Raised to $30 at BTIG
• ASM Pacific Technology (522:HK) (ASMVF) PT Raised to HK$120 at JPMorgan
• Premier Financial Corp. (PFC) PT Lowered to $23 at Keefe, Bruyette & Woods