Piper Jaffray Overweight on Cardtronics, $17 Price Target (CATM)
Piper Jaffray remains overweight on Cardtronics Inc. (NASDAQ: CATM) and it has a $17 price target on shares of the company.
Yesterday Cardtronics announced that it has initiated a full redemption of its $100m, 9.25% Senior Subordinated Notes due in 2013. Piper Jaffray estimates that this transaction adds about $0.10 to its 2011 EPS.
CATM shares are currently trading at $12.32, up 54 cents today.
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