Compass Point Upgrades Verifone Systems to Buy on Risk/Reward
David Johnson, Benzinga Staff Writer February 21, 2013 9:56 AM
Compass Point upgraded Verifone Systemsfrom Neutral to Buy and maintained a $28.00 price target.
Compass Point noted, "While there is lingering uncertainty surrounding potentially disruptive threats as well as a number of serious historical accounting concerns to be conscious of, the shares are trading near $20.50 in the pre-market down from the 52 week high of $56. We consider the risk/reward at this level favorable. Our $28 price target equals 10x our estimate of next year's Adjusted EPS."