Market Overview

UPDATE: Morgan Stanley Initiates Coverage On VeriFone Systems On Balanced Risk/Reward

Related PAY
CNBC's Stock Pops & Drops From December 17
Benzinga's Top Upgrades

In a report published Tuesday, Morgan Stanley analyst Smittipon Srethapramote initiated coverage on VeriFone Systems (NYSE: PAY) with an Equal-Weight rating and $35.00 price target.

In the report, Morgan Stanley noted, “PAY has resolved certification issues and is in the midst of a restructuring effort that should position it for accelerating growth. However, the stock is already pricing in near-term progress, while visibility on longer-term growth remains limited. Risk/reward looks balanced after recent rerating.”

VeriFone Systems closed on Monday at $36.72.

Latest Ratings for PAY

DateFirmActionFromTo
Dec 2014BarclaysUpgradesEqual-weightOverweight
Dec 2014CitigroupMaintainsNeutral
Dec 2014JP MorganMaintainsOverweight

View More Analyst Ratings for PAY
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Smittipon SrethapramoteAnalyst Color Initiation Analyst Ratings

 

Related Articles (PAY)

Around the Web, We're Loving...

Get Benzinga's Newsletters