Heartland Payment Systems falls on Wells Fargo valuation-based downgrade


Shares of Heartland Payment Systems (HPY -2.9%) fall after Wells Fargo downgrades the payment processor to Perform from Outperform with a PT of $45-$47.

Analyst Timothy Willi believes there is "minimal upside to our upwardly revised valuation range ... there is not likely to be a more significant acceleration in processed volume growth and revenue momentum in the upcoming 12-18 months that could lead to material upside."

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