UPDATE: Pacific Crest Securities Initiates Coverage on VeriFone Systems with Outperform Rating, $39 PT as Breaches and Apple Ripen Case for Retailer Investment - Paymentus Holdings (NYSE:PAY)

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

27% profit every 20 days?

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VeriFone Systems

(NYSE: PAY) with an Outperform rating and $39.00 price target.In the report, Pacific Crest Securities noted, “High-profile security breaches and Apple Pay, a viable mobile payment platform, are forcing retailers to consider tech upgrades. Assuming new management can execute against a favorable secular backdrop and regain market share, we see EPS power approaching $2.50. Initiating PAY at Outperform.”VeriFone Systems closed on Monday at $33.95.