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Fly News Breaks for June 8, 2016
PAY
Jun 8, 2016 | 06:49 EDT
Piper Jaffray analyst Jason Deleeuw believes Verifone's long-term franchise value is being undervalued by the post-earnings pullback in the shares. The stock is down 31% in pre-market trading to $19.50. The global Point of Sale terminal market remains a secular growth market and Verifone will improve its margin profile over time, Deleeuw tells investors in a research note. He lowered his price target for the shares to $27 from $38 and keeps an Overweight rating on the name. Barclays and Pacific Crest downgraded Verifone this morning.
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