UPDATE: Oppenheimer Initiates Coverage on Vantiv with Outperform Rating, $32 PT on Attractive Growth Outlook

In a report published Friday, Oppenheimer analyst Glenn Greene initiated coverage on

with an Outperform rating and $32.00 price target. In the report, Oppenheimer noted, “We initiate coverage on Vantiv Inc. with an Outperform rating and a $32 price target. Vantiv has one of the more attractive growth outlooks within Payment Processing and should continue to enjoy market share gains from direct sales and distribution channel expansion. Its acquisition of Litle expands its eCommerce processing capabilities and should provide valuable cross-selling opportunities. Vantiv also benefits from the secular transition toward electronic payments, and its single processing platform provides competitive differentiation and likely contributes to its strong profitability. We believe our long-term low to mid-teens EPS growth estimates, VNTV's strong margins and its diversified/stable vertical mix warrant its valuation premium.” Vantiv closed on Thursday at $26.67.