Goldman Sachs Positive on VeriFone (PAY), Says Buy Weakness Following Q2
Tweet
Share
E-mail
Get Alerts PAY Hot Sheet
Price: $40.00 +4.11%
Rating Summary:
7 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Goldman Sachs is telling clients to Buy VeriFone (NYSE: PAY) on weakness following Q2 results after the close.
While the firm expects shares to see pressure as investors digest the negative FX impact expected for the rest of the year. That said, given expectation for cc organic
revenue growth of nearly 13% in 2HFY12, "we believe the pullback presents an attractive opportunity to buy the shares."
Goldman said the company's "multi-pronged growth strategy with merchants of all sizes, new retail mobile solutions, the acquisition of Point, and rapidly expanding margin profile remain compelling investment characteristics."
The firm lowered EPS estimates only modestly, to $2.29 in FY2012 and $2.96 in FY2013; and leave FY2014 unchanged at $3.55.
The firm maintained their Buy rating and has a new price target of $56.
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 $45.00 yesterday.
While the firm expects shares to see pressure as investors digest the negative FX impact expected for the rest of the year. That said, given expectation for cc organic
revenue growth of nearly 13% in 2HFY12, "we believe the pullback presents an attractive opportunity to buy the shares."
Goldman said the company's "multi-pronged growth strategy with merchants of all sizes, new retail mobile solutions, the acquisition of Point, and rapidly expanding margin profile remain compelling investment characteristics."
The firm lowered EPS estimates only modestly, to $2.29 in FY2012 and $2.96 in FY2013; and leave FY2014 unchanged at $3.55.
The firm maintained their Buy rating and has a new price target of $56.
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 $45.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Beike (BEKE) PT Raised to $23 at Morgan Stanley
- Deere (DE) PT Raised to $585 at JPMorgan
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Goldman Sachs, EarningsSign 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!
