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Fly News Breaks for December 2, 2016
PAY
Dec 2, 2016 | 07:56 EDT
As noted earlier, Stifel downgraded Verifone (PAY) to Hold from Buy. Analyst Christopher Brendler downgraded the stock after Visa (V) and MAsterCard (MA) announced that they were delaying the gas pump EMV deadline by three years. The analyst thinks that this news will probably cause the company to lower its guidance when it reports its results later this month.He thinks that the news could lower the company's 2017 EPS by 12c. Target to $15 from $18.
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