UPDATE: Compass Point Reiterates Buy, $31 PT on Cardtronics; Domestic SSS Growth
Compass Point maintains its Buy rating and $31 price target on Cardtronics (NASDAQ: CATM) as the company reports 11% in domestic same store sales growth for Q1.
Compass Point comments, "Domestic SSS growth was 11%, compared to 5% last quarter and 3.8% a year ago, setting the new high water mark in company history. The 6% sequential acceleration in domestic SSS growth was comprised of 1% due to the leap year, 1.5% due to prepaid cards, 2.5% due to weather, and 1% due to fundamentals."
CATM closed at $26.36 on Monday.
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