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VeriFone Systems, Inc. Message Board

  • subseaworker subseaworker Dec 10, 2012 2:23 PM Flag

    Goldman Sachs analyst speaks again - $43 target

    The decline in VeriFone stock can be traced back to a crisis of confidence among investors who fear a rapid transition to mobile payments will create secular headwinds for the point of sale payment solutions provider. In the view of Goldman Sachs analyst Julio C. Quinteros Jr., those fears are overstated.

    "While we see some new entrants as potential long-term threats, we believe obsolescence concerns are overdone given the recent industry push to bring chip-based cards (i.e., EMV) into the US, and efforts to integrate mobile payment technology into existing infrastructure. Additionally, PAY has a full suite of products to compete with new entrants, which we believe enhances the company's overall competitive positioning." said Quintero.

    VeriFone also has plenty of opportunity in emerging markets, thinks Goldman Sachs analyst Julio C. Quinteros Jr., those fears are overstated.

    "Over the long-term, we remain focused PAY's dominant market share in emerging markets, as we see the continued ascent of a new middle/wealth class and deployment of new payment technologies as key demand drivers," continued Quintero.

    Investors will get a fresh look into PAY's business when it reports Q4 earnings on December 13th. Street estimates call for revenue and EPS of $495 million and EPS of 76 cents.

    Goldman Sachs has a Buy rating on VeriFone with a price target of $43.

 
PAY
32.650.00(0.00%)Apr 17 4:04 PMEDT

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