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Exane ups Worldpay to 'outperform' after de-rating

Fri, 06th Jan 2017 10:21

(ShareCast News) - Exane BNP Paribas upgraded payments processor Worldpay to 'outperform' from 'neutral' and lifted the price target to 340p from 290p, saying last year's de-rating provides a better entry point.The bank said it is still cautious on Worldpay's ecommerce margins and capex but factors in faster sales growth.It has upped its earnings before interest, taxes, depreciation and amortisation forecasts for the US division, which it said now has the right assets to compete in the small to mid-sized business space. Exane now expects EBITDA margin of 24.8% in 2017 and 26.7% in 2018, versus 24% and 26%, previously.Exane said the US division's recent woes are neither structural nor related to its smaller case."We show that profitability in merchant acquiring in the US is more a function of a company's merchant mix (SMBs matter), channel-to-market, and platform consolidation. WPUS appears to have addressed all those issues and we now expect margins to recover from H2."The bank also pointed out that small retail in the UK continued to do well in the second half of last year, performing better than the first half. This should support WPUK's net revenue growth and to some extent, offset the waning boost from Interchange regulation in the second half of 2016.At 1040 GMT, Worldpay shares were up 2.6% to 285.20p.

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FIS to buy Worldpay in $43bn cash and stock deal

(Sharecast News) - Payments processor Worldpay has agreed to be bought by US financial services technology company FIS in a $43bn deal.

3 Apr 2018 21:40

Mall owners Namdar, Washington Prime in bid to buy Bon-Ton -sources

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7 Feb 2017 15:10

Tuesday broker round-up

(ShareCast News) - Cairn Energy: Deutsche Bank upgrades to buy with a target price of 275p. Servelec Group: Berenberg reiterates buy, 391p target. Anglo American: JP Morgan reiterates overweight with a 1470p target. Premier Oil: Deutsche Bank downgrades to hold with a 90p target. Sanne Group: Be

2 Feb 2017 08:16

Worldpay poaches Santander's Peter Jackson to be new UK CEO

(ShareCast News) - Worldpay has poached Santander's former head of global innovation Peter Jackson to head its UK business, starting on 1 March. The online payments company said that Jackson will report to group chief executive Philip Jansen. Prior to Santander, Jackson was chief executive at Trave

2 Feb 2017 07:45

TOP NEWS: Worldpay Appoints Santander Head Of Innovation As UK CEO

12 Dec 2016 15:55

Monday broker round-up

(ShareCast News) - Greencore: Berenberg reiterates buy with a target price of 350p. Talk Talk: UBS reiterates neutral, 160p target. Barclays: JP Morgan reiterates neutral with a 215p target. Bunzl: Deutsche Bank reiterates buy with a 2450p target. Old Mutual: Barclays downgrades to equal-weight w

7 Dec 2016 09:33

BROKER RATINGS SUMMARY: Credit Suisse Raises Rio Tinto And Cuts BHP

11 Oct 2016 15:07

UK Dividends Calendar - Next 7 Days

28 Sep 2016 14:32

Worldpay appoints Kim Crawford Goodman as US chief executive

(ShareCast News) - FTSE 100 payments process Worldpay has appointed Kim Crawford Goodman as chief executive officer of its US business with effect from 7 November. After a handover period, she will succeed Floris de Kort who has decided to leave the group at the end of this year. Goodman has held s

19 Sep 2016 07:19

Andes Energia Snaps Up BT Chairman Michael Rake As Non-Executive

8 Sep 2016 15:12

UK Dividends Calendar - Next 7 Days

7 Sep 2016 08:31

Worldpay slumps as Bain, Advent sell more shares than expected

(ShareCast News) - Shares in payments processor Worldpay slumped on Wednesday as it emerged that private equity firms Advent International and Bain Capital LLP sold a bigger-than-expected stake in the company through their Ship Global 2 & Cy SCA vehicle. Ship Global, which is jointly owned by the tw

7 Sep 2016 07:33

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