Ingenico: Invest Securities drops 'buy' rating
(CercleFinance.com) - As Invest Securities deems that Worldline deal is now fairly priced in, the broker has downgraded its rating on the Ingenico share from "buy" to "neutral," while adjusting its corresponding target price from 131 euros to 139 euros (current price just under 141 euros), pending a better entry point.
The broker points out that since its sector report of 21 April, the Worldline and Ingenico shares have recovered significantly (+29% and +31%), therefore consuming their potential relative to targets that it considers are difficult to raise any further.
Invest Securities also says that it had slightly reduced its scenario for Worldline's recovery in 2021 and believes that Wirecard's setbacks should not create an opportunities in the near term.
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