Barclays Maintains an 'Overweight' on VeriFone (PAY); Chat with CEO/CFO Solidifies Disconnect
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Price: $35.52 -0.22%
Rating Summary:
6 Buy, 27 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 10 | Down: 6 | New: 33
Rating Summary:
6 Buy, 27 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 33
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Barclays maintains an 'Overweight' on VeriFone (NYSE: PAY) price target of $60.00.
Analyst, Darrin D. Peller, made comments after meeting with PAY's CEO and CFO. The executives expect 8-11% top-line year-over-year growth, citing high-single-digit growth in N.America, expanding U.K., African and EMEA markets, 20% growth in Asia and mid-teens in Latin America.
All in, Peller continues to see a disconnect between fundamentals and valuation. Net debt and free cash flow levels indicate a share buyback very possible in the near future.
Barclays raises FY12 EPS estimate from $2.64 to $2.74 and FY13 from $3.33 to $3.35.
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 $30.55 yesterday.
Analyst, Darrin D. Peller, made comments after meeting with PAY's CEO and CFO. The executives expect 8-11% top-line year-over-year growth, citing high-single-digit growth in N.America, expanding U.K., African and EMEA markets, 20% growth in Asia and mid-teens in Latin America.
All in, Peller continues to see a disconnect between fundamentals and valuation. Net debt and free cash flow levels indicate a share buyback very possible in the near future.
Barclays raises FY12 EPS estimate from $2.64 to $2.74 and FY13 from $3.33 to $3.35.
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 $30.55 yesterday.
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