Citi Gets Bullish on Verifone (PAY) Following CEO Meeting; Says FCF Outlook Beats Expectations
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Price: $38.42 -2.91%
Rating Summary:
7 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
7 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Verifone (NYSE: PAY) shares are on the rise today following positive comments from Citi after a meeting with the company's CEO, Doug Bergeron.
Analyst Philip Stiller said the company has expressed a "clear understanding" of steps it needs to take in order for the stock to recover following its recent slide.
Some key takeaways include Verifone wanting to respond better to competitive threats, be more transparent as a company, and deliver "good, organic results."
Stiller also noted that Verifone's free cash flow outlook for 2013 of about $300 million was above Citi's expectations.
Verifone last reported quarterly results on September 5th, with shares dipping over 16 percent to the close Thursday. The stock is up 7 percent today, just off of session highs.
Verifone (NYSE: PAY) shares are on the rise today following positive comments from Citi after a meeting with the company's CEO, Doug Bergeron.
Analyst Philip Stiller said the company has expressed a "clear understanding" of steps it needs to take in order for the stock to recover following its recent slide.
Some key takeaways include Verifone wanting to respond better to competitive threats, be more transparent as a company, and deliver "good, organic results."
Stiller also noted that Verifone's free cash flow outlook for 2013 of about $300 million was above Citi's expectations.
Verifone last reported quarterly results on September 5th, with shares dipping over 16 percent to the close Thursday. The stock is up 7 percent today, just off of session highs.
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