Piper Jaffray Raises PT For Cardtronics To $24 (CATM)

Piper Jaffray is out with a report today to raise the Price Target of Cardtronics CATM to $24 from $19. The report cites strong reported Q4 revenue and EPS for the change in price target. “CATM continues to impress with both 4Q revenue and EPS beating our forecasts. Adjusted EPS of $0.26 exceeded PJC/consensus $0.25/$0.24, and was up 57% y/y. Revenue growth accelerated to 8% and exceeded our 6% forecast. High-margin bank branding and surcharge-free revenue grew 21% y/y, aiding 220bps y/y of adjusted EBITDA margin expansion to 24.3%,” Piper Jaffray reported. Piper Jaffray maintained its Overweight rating on Cardtronics. Cardtronics closed on Thursday at $17.72.