UBS Initiates Coverage on VeriFone (PAY) with a Neutral; Some N-T Risks, But Well Positioned L-T

UBS initiates coverage on VeriFone (NYSE: PAY) with a Neutral. PT $50.

UBS analyst says, "Recent action in PAY shares has favored traders over long-term investors, as it has paid to buy on dips into the low/mid $30s (~12x multiple) and sell in the mid/high-$40s (~15x). We expect the tendency to underpromise and overdeliver vs. guidance will continue, but watch for operating leverage, margin expansion, and acceleration of the mix shift towards services and away from hardware. News flow on emerging payments and global macro factors/Europe also tends to move the shares."

To See Ratings Summary & History on PAYX, Click Here

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Klarna shares draw top investor interest at Wolfe amid fintech positioning shift
• TD Cowen Assumes Atara Biotherapeutics (ATRA) at Buy
• DA Davidson Starts Comfort Systems USA (FIX) at Buy