Wells Fargo Starts Vantiv (VNTV) at Market Perform; Strong Fundamentals, But Fairly Valued

Wells Fargo initiates coverage on Vantiv (NYSE: VNTV) with a Market Perform. PT range $21-23.

Analyst, Timothy Willi, said, "Our long-term DCF model, which takes into account free cash flow growth, debt pay down, share buyback and dividends, drives our $21-23 fair value estimate. Valuation aside, we hold a positive view of VNTV's prospects given: (1) the company's single technology platform, which drives operational strength and above-average profitability, in our view; (2) VNTV's broadened distribution channels; and (3) VNTV's exposure to non-discretionary spending. Our 2012/2013 cash EPS estimates are $1.10 and $1.31, respectively."

For an analyst ratings summary and ratings history on Vantiv click here. For more ratings news on Vantiv click here.

Shares of Vantiv closed at $22.52 yesterday.

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