Barrington Research Continues its Outperform Rating on Official Payments
Barrington Research has continued its Outperform rating on Official Payments (NASDAQ: OPAY) on the strength of the company's Q1 2012 financial results in research report out today. Currently, Barrington Research has a $7-8 price target on Official Payments.
In the report, Barrington Research writes,"Official Payments recently reported very encouraging Q1/12 financial results with a revenue increase of 5.7% to $34.8 million, a net revenue increase of 31% to $11.96 million. We have an OUTPERFORM rating on the shares based on the underlying value of the Electronic Payments Solution business."
Shares of Official Payments closed today at $4.51, down 1.96% from Friday's market close.
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