Wedbush analyst Gil Luria reiterated an Outperform rating and boosted his price target on VeriFone (NYSE: PAY) to $47.00 (from $45.00) following 'beat and raise' quarter with the company set-up well for several more quarters.

Luria commented, " We believe VeriFone will sustain HSD (constant currency) revenue growth and mid teen earnings growth based on healthy global market growth, 2-3 year EMV/NFC cycle and 3-5 years of margin improvements."

The firm raised FY15 estimate to $1.86 from $1.84 based on better results.

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 $38.35 yesterday.