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Expect 'Solid' Q2 Results From Verifone

Expect 'Solid' Q2 Results From Verifone

VeriFone Systems Inc (NYSE: PAY) is set to report second-quarter earnings on Tuesday.

Pacific Crest's Josh Beck offered his take on the company and stock ahead of the quarterly print.

"We expect solid results and see room for a modest beat and raise in line with the beat, but expect an ongoing transition in China and Brazil and product expansion to limit the magnitude of upside," Beck said. "[W]e remain positively biased on the midterm outlook as steady execution should drive improved confidence in the sustainability of mid-teens or better EPS growth, which warrants a market multiple, in our view."

The Pacific Crest analyst offered a look into investor sentiment on VeriFone: "Sentiment appears generally negative as investors are concerned about mixed international execution and the prospects for sustainable growth beyond the EMV cycle benefit."

Beck maintains an Overweight rating and $36 price target on VeriFone shares.

Latest Ratings for PAY

Apr 2018DowngradesBuyHold
Apr 2018DowngradesBuyHold
Apr 2018MaintainsNeutralNeutral

View More Analyst Ratings for PAY
View the Latest Analyst Ratings

Posted-In: Josh Beck Pacific CrestAnalyst Color Previews Analyst Ratings Trading Ideas


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