UPDATE: Pacific Crest Securities Initiates Coverage On Vantiv Inc On Innovative Portfolio

In a report published Tuesday, Pacific Crest Securities analyst Josh Beck initiated coverage on

with an Outperform rating and $38.00 price target. In the report, Pacific Crest Securities noted, “Retailers have underinvested in technology and Vantiv's innovative portfolio (software, security, omni-channel) should benefit as merchants modernize processing platforms. We see multiple revenue and EPS upside drivers. Initiating at Outperform with a $38 target.” Vantiv Inc closed on Monday at $31.35.