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UPDATE: Jefferies Downgrades Total System Services to Hold Post Acquisition

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Jefferies downgraded Total System Services (NYSE: TSS) from Buy to Hold and lowered the price target from $26.00 to $23.00.

Jefferies noted, "We are downgrading TSS to Hold from Buy and lowering our price target, as we believe the surprising NTSP acquisition represents an unexpected change in strategy, pushing TSS into a market subject to potential margin/pricing pressure, while possibly introducing new regulatory risk and taking share buybacks off the table for the foreseeable future. We like the acquisition for NTSP shareholders and raise our price target."

Total System Services closed at $23.48 on Tuesday.

Latest Ratings for TSS

DateFirmActionFromTo
Feb 2017Stifel NicolausUpgradesHoldBuy
Jan 2017BMO CapitalInitiates Coverage OnOutperform
Dec 2016Pacific CrestInitiates Coverage OnOverweight

View More Analyst Ratings for TSS
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Posted-In: JefferiesAnalyst Color Downgrades Analyst Ratings

 

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