UPDATE: Goldman Sachs Color on VeriFone PT Increase

Goldman Sachs, which raised its PT on shares of VeriFone Systems, Inc PAY, is providing some color on the stock. “PAY reported revenue of $292mn vs. our/consensus $284mn/$285mn and management-defined EPS of $0.46 vs. our/consensus $0.43,” Goldman Sachs writes. “We raise our mgmt-def. estimates (which add back stock comp, purchase amortization, and merger costs) for FY11/FY12/FY13 to $1.83/$2.18/$2.48 from $1.79/$1.99/$2.27 and have also updated our GS-defined estimates. Our new forecasts reflect the 2Q beat and updated guidance.” VeriFone Systems closed Thursday at $47.14.