Shares of VeriFone Holdings Inc. dipped slightly last week despite a report predicting growth for the San Jose terminal company.
Gil Luria, an analyst at Wedbush Morgan Securities, wrote in a research note published Thursday that VeriFone will continue to dominate the national market for U.S. terminals and that pricing worldwide remains steady. He also wrote that, despite previous concerns that overall demand for payment terminals could be slipping, comments from several vendors at a trade show last week "indicate that the rapid growth of the last few years ha[s] continued through the first part of 2008."
However, Mr. Luria noted that VeriFone had raised some prices recently, which "may have resulted in a significant shift toward" its French rival Ingenico SA.
He reiterated his "hold" rating for VeriFone and his $13 price target for its shares, which were trading at $12.08 at midday Friday, down 0.82% from Thursday's close.
