NEW YORK (TheStreet) -- J.P. Morgan upgraded Cardtronics to "overweight" from "neutral" and set a $45 price target. The firm said the company's Welch ATM acquisition creates bullish sentiment.
The stock closed at $36.21 on Tuesday.
By Kerrisdale Capital Management:
We are short shares of Cardtronics (CATM), the largest non-bank owner and operator of ATMs, primarily in the US and UK.
To read about our findings, please view our slide presentation and full report.
While it does appear that mobile payments are slowly catching on, it's tough to see paper currency going away anytime soon. For now, and the foreseeable future, people still like to have cash in their pockets. Even though the...
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