Sterne Agee Reiterates Buy Rating, $28 PT on Total System Services
In a report published Wednesday, Sterne Agee Group reiterated its Buy rating and $28.00 price target on Total System Services (NYSE: TSS).
Sterne Agee noted, “Adjusting for a one-time expense, TSYS' 4Q EPS would have been in line with consensus, but more important, 2013 EPS guidance was in line with expectations. We believe the guidance will prove conservative as we expect more aggressive use of the balance sheet during the year either through buybacks or acquisitions. We are maintaining our above-consensus estimates and our $28 price target. EPS visibility remains high and the balance sheet could be a catalyst, in our view.”
Total System Services closed on Tuesday at $23.56.
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