Jefferies is out with its report today on Total System Services TSS, initiating TSS at Buy.
In a note to clients, Jefferies writes, "After weathering the steep economic downturn and resulting impact on
its core bank customers, TSS has started to reap benefits from a more favorable consumer-spending environment (especially in credit) which is driving improvement in key metrics. We believe TSS's diversification strategy into merchant acquiring is also a positive, as is the prospect for medium/longterm margin expansion. We are initiating coverage of TSS with a Buy rating and $21 price target."
Shares of TSS closed Monday at $17.89, up 0.73% from Friday's close.
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Posted In: Analyst ColorPrice TargetInitiationAnalyst RatingsData Processing & Outsourced ServicesInformation TechnologyJefferiesTotal System Services
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