The firm said it raised its rating on the secure electronic payment solutions company as it believes the company's fourth quarter results and its double digit organic revenue guidance suggest strong tailwinds.
Shares of VeriFone are higher by 2.65% to $35.25 at the start of trading today.
"We also believe that recent petroleum deals and the larger addressable market from EMV provide the potential to transform VeriFone's model well above expectations," Barclays said.
Barclays raised its price target on VeriFone to $47 from $36.
Separately, TheStreet Ratings team rates VERIFONE SYSTEMS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIFONE SYSTEMS INC (PAY) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."