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Monday, May 14
2012, 2:31 PM
Payment-system provider Net 1 UEPS Technologies (UEPS -5.91%) dips after Janney cut the shares...
Payment-system provider Net 1 UEPS Technologies (UEPS -5.91%) dips after Janney cut the shares to Neutral today and sliced its valuation target by nearly 30% on the back of its FQ3 results and FY12 outlook on Friday. The firm notes that despite confidence in the company's ability to execute a newly won contract in its home country of South Africa, it says it doesn't feel comfortable with the "unit economics" of the deal, and prefers to move to the sidelines.