Ingenico: Invest Securities cuts target price

(CercleFinance.com) - While maintaining its "neutral" rating on the stock, Invest Securities has cut its corresponding target price from 67 euros to 56 euros, in the wake of a 6% reduction in its 2018-20 EPS estimates the day after the group's profit warning for 2018.


While concerns will focus on the banks and acquirers division, the broker also highlights the relatively poor performance of the retail division, given the momentum of its market and the performance of listed competitors.

Given that no guidance for 2019 will be provided until 12 February, visibility should remain very low, with the possibility that high debt will begin to raise concerns, the analyst also warns.


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