Wedbush Maintains Neutral Rating, $50 PT On VeriFone

Wedbush reports that it believes VeriFone Systems, Inc PAY is well positioned to maintain double-digit top line growth “as a stand-alone company and will benefit from significant accretion if it successfully completes the Hypercom acquisition.” “We continue to believe a deal is likely once VeriFone addresses the DOJ's concerns,” Wedbush writes. “Maintain $50 price target and NEUTRAL rating based on the risks to and from the HYC deal.” VeriFone Systems closed at $46.64.