Market Overview

UPDATE: Jefferies Initiates VeriFone Systems at Hold on Execution Risk

Share:
Related PAY
8 Must Watch Stocks for Today
Earnings Recap For March 10

Jefferies initiated downgrades Verifone Systems (NYSE: PAY) from Outperform to Sector Perform.

Jefferies noted, "After the stock's recent move, we think the bull and bear cases on PAY net out, and we initiate with a Hold rating. We think PAY is unlikely to be broadly disintermediated by new entrants, but we do believe the rapid acceleration in pace of POS technology change is materially increasing the complexity of PAY's business, thereby elevating the degree of execution risk."

VeriFone Systems closed at $34.90 on Thursday.

Latest Ratings for PAY

DateFirmActionFromTo
Apr 2016Compass PointInitiates Coverage onBuy
Mar 2016Credit SuisseMaintainsNeutral
Mar 2016Pacific CrestMaintainsOverweight

View More Analyst Ratings for PAY
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Initiation Analyst Ratings

 

Related Articles (PAY)

View Comments and Join the Discussion!