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UBS ups Worldpay to 'buy' after pullback

Wed, 27th Apr 2016 09:14

(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 its full-year 2015 results, the stock has fallen 12% while its US peers have risen 12%, leaving Worldpay trading in-line with peers. As a result, the risk/reward is now sufficiently attractive to warrant an upgrade, the bank said."We believe that Worldpay's significant exposure to online transactions and investments in new value-added services will help the company to outgrow its peers."UBS said Worldpay is a high quality business with strong structural growth linked to the growth of electronic payments (both online and offline) with around 90% of its revenues linked to fees charged per transaction."As the company completes the final steps of the technology investment made since separation from RBS in 2010, we expect the business will show a strong improvement in cash generation in 2017 and could deliver 1.5-2 pts of margin expansion per year from 2018."UBS said that if Worldpay is able to deliver on faster growth, there is potential for upside in the shares towards 365p.The bank maintained its 300p price target on the stock.At 0918 BST, Worldpay shares were up 2.5% to 264.80p.
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(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

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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

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

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6 Jan 2017 10:21

Exane ups Worldpay to 'outperform' after de-rating

(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

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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

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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

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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

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