Barclays Reiterates an 'Overweight' on VeriFone (PAY); Additional Thoughts on 4Q11 Results and Growth Trajectory
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Price: $41.86 -0.78%
Rating Summary:
7 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays reiterates an 'Overweight' on VeriFone (NYSE: PAY) price target of $55.00.
Barclays analyst says, "Shares of PAY have underperformed the market by 13% over the two days following a 4Q11 report that changed little about our investment thesis...We look to upcoming quarters to demonstrate earnings upside, and suspect management will take the opportunity after the close of the Point deal to provide further clarity on the shift to higher-multiple services."
"Will U.S. Growth Really Re-Accelerate? Lift in a tough comp and a distributor's inventory reset should help the U.S. normalize, supported by multilane/taxi/services...Is a High Level of International Growth Sustainable? We believe it is important not to overlook secular drivers and improved competitive position relative to the last cycle...Is Hypercom Performance Really on Track? Faster shift to VeriFone product in the Hypercom channel should continue to support $0.20-025+ accretion, in our view...Could Guidance Update for Point Imply an Organic Miss? We disagree, and suspect the sales outlook raise combines management's initial conservatism out of the gate with the growth profile of Point."
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.
Barclays analyst says, "Shares of PAY have underperformed the market by 13% over the two days following a 4Q11 report that changed little about our investment thesis...We look to upcoming quarters to demonstrate earnings upside, and suspect management will take the opportunity after the close of the Point deal to provide further clarity on the shift to higher-multiple services."
"Will U.S. Growth Really Re-Accelerate? Lift in a tough comp and a distributor's inventory reset should help the U.S. normalize, supported by multilane/taxi/services...Is a High Level of International Growth Sustainable? We believe it is important not to overlook secular drivers and improved competitive position relative to the last cycle...Is Hypercom Performance Really on Track? Faster shift to VeriFone product in the Hypercom channel should continue to support $0.20-025+ accretion, in our view...Could Guidance Update for Point Imply an Organic Miss? We disagree, and suspect the sales outlook raise combines management's initial conservatism out of the gate with the growth profile of Point."
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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