Seeking Alpha

11-month highs for VeriFone following Standpoint PT hike

  • Standpoint Research has hiked its VeriFone (PAY +4.8%) PT to $33 from $28, while reiterating a Buy. That helped the point-of-sale hardware vendor reach levels it last saw in Feb. '12, before shares crashed in response to a brutal FQ1 warning.
  • After bottoming in June, shares have gradually rallied with the help of improving earnings news, relatively healthy services sales (hardware sales continue to be soft), and optimism about new CEO Paul Galant's ability to right the ship.
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