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

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Benzinga's Top Upgrades
Goldman Just Upgraded VeriFone Because It's 'Not A One Trick Pony'

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
Apr 2015Goldman SachsUpgradesNeutralBuy
Apr 2015Stifel NicolausUpgradesHold
Mar 2015BMO CapitalInitiates Coverage onOutperform

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

 

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