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Fly News Breaks for October 1, 2015
USAT
Oct 1, 2015 | 07:20 EDT
Rodman & Renshaw analyst Kevin Dede attributes yesterday's pullback in shares of USA Technologies to the company's delay of its 10-K due to an accounting adjustment. However, the after-tax charge of $270,000 that the company is taking due to higher reserves for uncollected accounts is "immaterial in the grand scheme of things" and the overreaction in the stock creates an attractive entry point, Dede tells investors. USA Technologies' automated vending systems have been tested and were found to work with Samsung's (SSNLF) new Samsung Pay, meaning the company's systems accommodate each of the three emerging mobile payment systems, Dede also noted. The analyst keeps a Buy rating and $4 price target on USA Tech shares.
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