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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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18 Apr 2016 12:43

Credit Suisse upgrades Worldpay, highlights structural growth

(ShareCast News) - Credit Suisse upgraded Worldpay to 'outperform' from 'neutral' saying the share price weakness after the 2015 results was the opportunity it had been waiting for to turn more positive on the stock. The bank admitted that Worldpay's full year results were "not perfect", but highlig

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17 Apr 2016 16:53

Sunday newspaper round-up: AstraZeneca, Monarch Airlines, HSBC, Opec deal

(ShareCast News) - AstraZeneca has held talks with US-based rival Medivation that could see it make a $10bn (£7bn) takeover bid, where it will battle France's Sanofi, which had a bid rejected last week, and others. Although oncology drug maker Medivation has been criticised for "price gouging" by Am

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8 Apr 2016 15:01

Friday newspaper share tips: Worldpay, Foxtons

(ShareCast News) - Two of the original investors in Worldpay, private equity holders Advent International and Bain Capital, were allowed to dispose of a third of their stakes via a placing, with more to come, The Times's Tempus pointed out to readers. The move was arguably justified by the fact that

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7 Apr 2016 13:04

FTSE 100 movers: M&S climbs on update; Glencore slips on downgrade

(ShareCast News) - London's FTSE 100 index was down 0.1% to 6,154.99 at 1410 BST, although retailer M&S bucked the trend. Payments processor Worldpay was under pressure after private equity groups Advent International and Bain Capital sold a 12.5% stake in the company. Glencore fell after JP Morgan

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7 Apr 2016 11:14

LONDON MARKET MIDDAY: Stocks Give Back Gains As Oil Rally Peters Out

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7 Apr 2016 09:33

WINNERS & LOSERS SUMMARY: Connemara Shares Double On Inishowen Results

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7 Apr 2016 08:04

Bain and Advent sell stake in Worldpay

(ShareCast News) - Ship Global 2 & Cy S.C.A., a company jointly owned by funds managed by private equity groups Advent International Corporation and Bain Capital, has sold 275m ordinary shares in payments processor Worldpay at 269p each. Following completion of the placing, which represented a 12.5%

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7 Apr 2016 07:36

LONDON MARKET OPEN: Oil And Dovish Fed Minutes Boost London Equities

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7 Apr 2016 06:12

Shareholders Advent, Bain Sell 14% Worldpay Stake For GBP740 Million (ALLISS)

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6 Apr 2016 17:37

UPDATE: Shareholders Advent, Bain Plan To Sell Stake In Worldpay (ALLISS)

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6 Apr 2016 15:57

Shareholders Advent, Bain Plan To Sell 12.5% Stake In Worldpay (ALLISS)

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14 Mar 2016 14:49

Director dealing: Paddy Power co-founder cashes in some shares

(ShareCast News) - Directors in the newly merged Paddy Power Betfair (PPB) continue to take profits after the sealing of the deal. Following the sale by group chief executive Breon Corcoran last week, Paddy Power co-founder Stewart Kenny pocketed almost €2.6m after selling 27,000 shares at €120.38

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14 Mar 2016 12:08

DIRECTOR DEALINGS: Worldpay Non-Executive Director Buys First Shares

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9 Mar 2016 16:26

Wednesday broker round-up

(ShareCast News) - Worldpay: Jefferies reiterates buy with a target price of 340p and Goldman Sachs keeps at buy with a target price of 400p. Burberry: HSBC downgrades to hold, 1500p target. Croda International: Goldman Sachs downgrades to neutral with a target price of 3300p. Ashtead: Credit Suis

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8 Mar 2016 16:58

LONDON MARKET CLOSE: Oil Fall And Chinese Trade Combine To Hurt Stocks

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