Ingenico: Invest Securities no longer a seller
(CercleFinance.com) - Invest Securities has upgraded its sell rating on Ingenico Group to "neutral," having increased its corresponding target price from 60 euros to 76 euros, considering that its previous "sell" rating is difficult to justify in the near term.
It is clear that performance in H1 2019 cannot be extrapolated into the second half, although Ingenico and its new management team have found momentum and credit, helped by a recovery of the B&A division, the analyst said.
That being said, there are still many uncertainties and challenges in the medium and long term, and without calling into question the group reaching its targets for 2021 (already integrated into the broker's expectations since the CMD in May), visibility remains weak, he said however.
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