Wirecard: not guilty and cleared; Invest Securities still a
(CercleFinance.com) - The Parisian broker Invest Securities has reviewed the German payments specialist Wirecard, which has been shaken up by news articles in recent weeks.
The final report by lawyers says that the group is not guilty and cleared, the broker says in its comments, confirming its buy rating on the share, with a target price of 168 euros, suggesting upside potential of 35%.
Indeed, yesterday the Wirecard share leapt 26% on the Frankfurt Stock Exchange after the publication of the final and definitive report by the law firm Rajah & Tann, which concluded that there are no major irregularities. Wirecard and its management team have hence been cleared of accusations in the Financial Times - although this is not the case for certain employees at its Singapore subsidiary, who are subject to criminal prosecution, analysts point out.
In short, after a new unfounded attack, the group should return to particularly strong fundamentals, thanks to contracts with Crédit Agricole and Mizuho, Invest Securities says.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The final report by lawyers says that the group is not guilty and cleared, the broker says in its comments, confirming its buy rating on the share, with a target price of 168 euros, suggesting upside potential of 35%.
Indeed, yesterday the Wirecard share leapt 26% on the Frankfurt Stock Exchange after the publication of the final and definitive report by the law firm Rajah & Tann, which concluded that there are no major irregularities. Wirecard and its management team have hence been cleared of accusations in the Financial Times - although this is not the case for certain employees at its Singapore subsidiary, who are subject to criminal prosecution, analysts point out.
In short, after a new unfounded attack, the group should return to particularly strong fundamentals, thanks to contracts with Crédit Agricole and Mizuho, Invest Securities says.
Copyright (c) 2019 CercleFinance.com. All rights reserved.