Oppenheimer Says Momentum Building for Total System Services

In a recent research report released by Oppenheimer, Total System Services

has provided an FY12 EPS guidance of $1.26-1.28 (10-12% growth). Oppenheimer commented in the report, “The FY12 outlook suggests that TSS has grown through its headwinds of the recent downturn, that its customer base is stable, and that it is poised for moderate revenue growth with margin leverage. TSS also maintains a robust account conversion pipeline and appears optimistic regarding other prospect opportunities. We view TSS' multiple as very reasonable and believe downside in the shares is limited as fundamentals gradually improve.” Oppenheimer reiterates its Perform rating on Total System Services, which closed yesterday at $20.94.