Compass Point Starts VeriFone (PAY) at Neutral; Shares Down, But Fundamentals Attractive

Compass Point initiates coverage on VeriFone (NYSE: PAY) with a Neutral. PT $38.00.

Analyst, Douglas Greiner, said, "In the past three months shares are down about 46% from top tick to bottom tick versus S&P500 down just 4% following accounting concerns, weak free cash flow, and foreign currency headwinds justifying our initial caution. Yet, long-term fundamentals are attractive and the company expects to double revenues from $1.5B to $3B by FY2015, presenting the opportunity to potentially be more optimistic."

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 $35.13 yesterday.

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