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VeriFone trades up on Jefferies upgrade: the bar is "low enough"

  • VeriFone (PAY +2.7%) shares trade up after Jefferies upgrades the company to Buy from Hold with a PT of $29 ($21 previous).
  • Analyst Jason Kupferberg thinks the bar has "already been set low enough" for the new CEO to beat estimates, VeriFone "should be positioned for some market share recovery in 1H14, coinciding with progressively easier y/y comps," and significant disintermediation is "unlikely" given Verifone's 20M unit installed base and "ample" mobile offerings.
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