Jefferies Tweaked Estimates on VeriFone Systems (PAY) Following 4Q Results
Jefferies maintained a Buy rating on VeriFone (NYSE: PAY), and cut the price target to $40.00 (from $43.00), following the company's 4Q earnings report, and conference call.
Analyst Jason Kupferberg commented, "On the back of F4Q15 results and management commentary, we are tweaking our F16 revs/EPS ests from $2,126.6M/$2.19 to $2,097.0M/$2.17 and F17 revs/ EPS ests from $2,286.6M/$2.58 to $2,250.1M/$2.56. We are also lowering our price target to $40 (from $43), but maintaining our Buy rating."
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Shares of VeriFone closed at $26.49 yesterday.