UPDATE: Compass Point Upgrades Verifone Systems to Buy on Risk/Reward
Compass Point upgraded Verifone Systems (NYSE: PAY) from Neutral to Buy and maintained a $28.00 price target.
Compass Point noted, "While there is lingering uncertainty surrounding potentially disruptive threats as well as a number of serious historical accounting concerns to be conscious of, the shares are trading near $20.50 in the pre-market down from the 52 week high of $56. We consider the risk/reward at this level favorable. Our $28 price target equals 10x our estimate of next year's Adjusted EPS."
Verifone Systems closed at $20.50 on Wednesday.
Latest Ratings for PAY
|Apr 2016||Compass Point||Initiates Coverage on||Buy|
|Mar 2016||Credit Suisse||Maintains||Neutral|
|Mar 2016||Pacific Crest||Maintains||Overweight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.