UBS Upgrades VeriFone (PAY) to Buy; Several Factors Drove Recent Re-rating, But Still Long-Term Secular Opportunity
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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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UBS upgraded VeriFone (NYSE: PAY) from Neutral to Buy. PT cut from $48 to $37.
Analyst, John T. Williams, said, "We believe that the 44% sell-off over the last month (vs. the S&P 500 -4%) has set up a solid entry point at an attractive multiple for medium-term investors."
UBS cut FY12/13 EPS estimate by $0.02 each, to $2.65 and $3.27, respectively.
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 $30.46 yesterday.
Analyst, John T. Williams, said, "We believe that the 44% sell-off over the last month (vs. the S&P 500 -4%) has set up a solid entry point at an attractive multiple for medium-term investors."
UBS cut FY12/13 EPS estimate by $0.02 each, to $2.65 and $3.27, respectively.
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 $30.46 yesterday.
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