Wirecard: a buyer, UBS ups target price
(CercleFinance.com) - With the European payments industry in turmoil, this morning UBS has confirmed its buy rating on the German Wirecard stock.
It has raised its 12-month target price from 141 euros to 159 euros after the group's IPO of Adyen.
Analysts have drawn the consequences of the resounding IPO of Adyen in Brussels. In essence, and by comparison, UBS believes that Wirecard is "well positioned" with merchants, thanks to its broad service potential. Wirecard's extensive client base - none of which exceeds 1% of sales - is also less concentrated than that of Adyen.
UBS believes that instead Adyen is playing a role of "follower". Even though the Belgian group stands out thanks to its very strong organic growth (+49% average growth p.a. between 2015 and 2017) and its employees' stakes in its capital.
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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.
It has raised its 12-month target price from 141 euros to 159 euros after the group's IPO of Adyen.
Analysts have drawn the consequences of the resounding IPO of Adyen in Brussels. In essence, and by comparison, UBS believes that Wirecard is "well positioned" with merchants, thanks to its broad service potential. Wirecard's extensive client base - none of which exceeds 1% of sales - is also less concentrated than that of Adyen.
UBS believes that instead Adyen is playing a role of "follower". Even though the Belgian group stands out thanks to its very strong organic growth (+49% average growth p.a. between 2015 and 2017) and its employees' stakes in its capital.
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.