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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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11 Aug 2016 10:52

Broker tips: Staffline, Worldpay, Travis Perkins

(ShareCast News) - Berenberg raised Staffline Group's rating to 'buy' from 'hold' and its target price to 1,250p from 900p on Thursday. Immediately after the UK's vote to leave the European Union on 24 June, Berenberg had downgraded the Staffline to 'hold' as it felt "uncertainty about the UK econom

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11 Aug 2016 09:52

Worldpay shares fall as Jefferies downgrades to 'hold'

(ShareCast News) - Worldpay shares dropped on Thursday as Jefferies lowered its rating on the stock to 'hold' from 'buy' and cut its target price to 325p from 340p. Jefferies said while the payment processing company's first half results on Tuesday were "strong", growth looks set to decelerate in th

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10 Aug 2016 11:00

Broker tips: Cobham, Worldpay, Rolls-Royce

(ShareCast News) - Exane BNP Paribas downgraded Cobham to 'underperform' from 'neutral' and cut the price target to 140p from 143p, highlighting lingering doubts following the company's first-half results last week. The bank said sales and trading profit in H1 were broadly in line with consensus. "

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10 Aug 2016 10:11

Wednesday broker round-up

(ShareCast News) - Ibstock: Jefferies reiterates buy with a target price of 190p. Legal & General: Barclays maintains equal-weight with a 194p target. Glencore: UBS reiterates buy with a 220p target. Booker: HSBC stays at neutral with a 200p target. Spire Healthcare: Berenberg reiterates buy with

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10 Aug 2016 08:46

Goldman Sachs reiterates 'buy' on Worldpay, raises target price

(ShareCast News) - Goldman Sachs has reiterated a 'buy' rating on Worldpay and raised its target price to 400p from 350p after the company reported its first half results. Worldpay on Tuesday said pre-tax profit rose to £168.6m in the first half from £0.3 the same period a year ago, as revenue jumpe

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9 Aug 2016 09:43

WINNERS & LOSERS SUMMARY: Worldpay Bid Up After Strong First Half

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9 Aug 2016 07:07

Worldpay H1 profit and revenue grow

(ShareCast News) - Payments processor Worldpay - which floated on the London Stock Exchange last year - reported a rise in first-half underlying earnings and pre-tax profit amid strength in all its businesses, as it declared a maiden interim dividend of 0.65p per share. For the six months to the end

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2 Aug 2016 10:58

Tuesday broker round-up

(ShareCast News) - HSBC: Berenberg reiterates buy with a target price of 600p. Intertek: Numis maintains reduce with a 3100p target. Barclays: Citigroup reiterates buy with a 135p target. IAG: HSBC stays at reduce with a 325p target. Anglo American: UBS keeps at sell with a target price of 740p.

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10 May 2016 08:31

BROKER RATINGS SUMMARY: Berenberg Starts Worldpay With Buy Rating

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10 May 2016 07:21

LONDON BRIEFING: Anglo American And Capita Lead Positive Early Trade

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27 Apr 2016 15:56

LONDON MARKET CLOSE: Stocks End Up As Fed and BoJ Decisions Loom

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27 Apr 2016 11:13

LONDON MARKET MIDDAY: Blue Chips Underperform On Big Earnings Day

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27 Apr 2016 09:42

WINNERS & LOSERS SUMMARY: Barclays Moving In The Right Direction

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27 Apr 2016 09:14

UBS ups Worldpay to 'buy' after pullback

(ShareCast News) - UBS upgraded Worldpay to 'buy' from 'neutral' saying the pullback in the shares provides an opportunity. When it initiated on the stock, UBS highlighted its positive view on the business opportunities, but said it struggled with the valuation. However, since Worldpay published it

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27 Apr 2016 08:31

BROKER RATINGS SUMMARY: UBS Upgrades Worldpay To Buy From Neutral

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