NEW YORK (TheStreet) -- Shares of VeriFone Systems Inc (PAY - Get Report) are down -0.91% to $34.73 after the credit-card swipe machine maker was downgraded to "market perform" from "outperform" at Raymond James (RJF) this morning, despite reporting better than expected third quarter earnings yesterday.
Analysts at the firm cited valuation and ongoing reinvestments that limit upside profitability.
Raymond James removed its $39 price target on the shares.
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- You can view the full analysis from the report here: PAY Ratings Report
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