Market Overview

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

Share:
Related PAY
Modo Creates A Payments Data Highway Between The World's Largest Financial Institutions
30 Biggest Movers From Yesterday
PAX Global May Be Pounded Down Into Bargain Territory (Seeking Alpha)

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
Dec 2017Credit SuisseMaintainsNeutral
Nov 2017Raymond JamesDowngradesStrong BuyOutperform
Sep 2017CitigroupInitiates Coverage OnNeutral

View More Analyst Ratings for PAY
View the Latest Analyst Ratings

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

 

Related Articles (PAY)

View Comments and Join the Discussion!