Deutsche Bank Maintains Hold Rating on Deutsche Bank

According to Deutsche Bank, Verifone (NYSE: PAY) Hold rating is maintained.

Deutsche Bank said that PAY's 4Q11 rev of $416m (est 17% organic) and EPS of $0.53 beat ests of $403m in rev and $0.51 in EPS. “Our $40 target price is based on 11.4x our CY12E EV/EBITDA, in line with PAY's average 5-year forward EV/EBITDA of 11.3x. We deem the valuation fair based on a potential organic growth slowdown in FY12 and uncertainty surrounding adoption of NFC and EMV in the US.”

Verifone closed yesterday at $40.55.