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Adyen: UBS raises target price

( - UBS reiterates its "buy" rating on the shares of Dutch fintech group Adyen, while raising its target price from 1,039 euros to 1,583 euros.

In a note to clients, the broker writes that it believes that the payment platform will continue to significantly outperform its medium-term guidance, and that it expects further increases in the consensus.

After strong customer wins, led by McDonalds, Subway, or Alibaba, Adyen could also see its "special partnership" with eBay develop, with the US online auctioneer moving into "volume-ramp phase," UBS says.

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