Barclays Maintains an 'Overweight' on Total System Services (TSS); Expect Sound 3Q Result Driven By Secular Trends & Share Repurchases
Tweet
Share
E-mailGet Alerts TSS Hot Sheet
Price: $133.27 --0%
Rating Summary:
16 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 8 | New: 1
Rating Summary:
16 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 8 | New: 1
Join SI Premium – FREE
Barclays maintains an 'Overweight' on Total System Services (NYSE: TSS) price target of $23.00.
Barclays analyst says, "Since TSS reported its 2Q results on July 26, the shares have considerably outperformed the market (up 2.5% vs. S&P down 9.5% over the same period). We expect TSS' 3Q results to continue to illustrate relative strength in underlying secular trends and capital structure opportunities. Recall, during 2Q11 TSS saw positive accounts on file growth for the second consecutive quarter, with growth seen in all categories for the first time since August 2007. Given further improvements around NCOs and loan growth, recent data points indicating that consumer spending remains resilient even in an uncertain macroeconomic environment, and issuers faced with the prospect of replacing lower debit interchange revenues, we believe issuers continue to shift their focus toward new account acquisitions and activations, and TSS should be well-positioned to benefit."
For more ratings news on Total System Services click here and for the rating history of Total System Services click here.
Shares of Total System Services closed at $18.63 yesterday.
Barclays analyst says, "Since TSS reported its 2Q results on July 26, the shares have considerably outperformed the market (up 2.5% vs. S&P down 9.5% over the same period). We expect TSS' 3Q results to continue to illustrate relative strength in underlying secular trends and capital structure opportunities. Recall, during 2Q11 TSS saw positive accounts on file growth for the second consecutive quarter, with growth seen in all categories for the first time since August 2007. Given further improvements around NCOs and loan growth, recent data points indicating that consumer spending remains resilient even in an uncertain macroeconomic environment, and issuers faced with the prospect of replacing lower debit interchange revenues, we believe issuers continue to shift their focus toward new account acquisitions and activations, and TSS should be well-positioned to benefit."
For more ratings news on Total System Services click here and for the rating history of Total System Services click here.
Shares of Total System Services closed at $18.63 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Upgrades Husqvarna AB (HUSQB:SS) to Buy
- First BanCorp (FBP) PT Raised to $21 at Keefe, Bruyette & Woods
- Keefe, Bruyette & Woods Upgrades Trustmark (TRMK) to Outperform
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
BarclaysSign 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!
