Fly News Breaks for March 11, 2015
SBUX, PAY
Mar 11, 2015 | 08:45 EDT
After VeriFone (PAY) announced a deal with Starbucks (SBUX), Pacific Crest. noting that some ivnestors are worried that VeriFone's sales will drop sharply after Octber, thinks the deal highlights VeriFone's differentiated security offering and relevance. The firm believes that Starbucks' decision could cause other retailers who had been sitting on the fence to adopt VeriFone's systems. Pacific Crest expects VeriFone to benefit from a multi-year upgrade cycle and it recommends buying the stock.
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