VeriFone (PAY) Tailwinds Intact, Jefferies Says

Jefferies analyst Jason Kupferberg reiterated a Buy rating and $42 price target on VeriFone (NYSE: PAY) after meetings with management, saying tailwinds are intact.

Kupferberg commented, "We recently met with PAY management, and emerged feeling confident that there are adequate tailwinds in place (US EMV, R&D efficiency, platform rationalization, product certifications) for shares to continue moving higher over the next 12 months, assuming recent execution continues. Next meaningful catalyst could be better visibility on normalized earnings power (perhaps at FY end)."

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 $36.45 yesterday.

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