Wirecard: Bryan Garnier raises target price
(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on the Wirecard stock, with an increased fair value of raised from 125 euros, vs.
110 euros, after the payment solutions group published its Q1 results.
The broker points out that revenue of 420.4 million euros and EBITDA of 112.3 million euros came in above expectations, and that Wirecard recorded a 24.2% growth in revenues and 26.4% increase in transaction volumes processed, on a comparable basis.
Management has maintained its target EBITDA range of 520 million to 545 million euros (against a consensus of 541 million euros and Bryan Garnier's estimate of 539.7 million euros), as well as its 2020 vision, the broker adds.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
110 euros, after the payment solutions group published its Q1 results.
The broker points out that revenue of 420.4 million euros and EBITDA of 112.3 million euros came in above expectations, and that Wirecard recorded a 24.2% growth in revenues and 26.4% increase in transaction volumes processed, on a comparable basis.
Management has maintained its target EBITDA range of 520 million to 545 million euros (against a consensus of 541 million euros and Bryan Garnier's estimate of 539.7 million euros), as well as its 2020 vision, the broker adds.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.