Worldline: Oddo BHF still a buyer after acquisition
(CercleFinance.com) - Oddo BHF reiterates its "buy" rating on the Worldline stock, along its target price of 53 euros, with the stock belonging to its "Oddo Midcap" selection for the first half of 2018, following the announcement of the takeover of its Swiss peer Six Payment Services.
Worldline's managers have agreed to pay quite a lot for Six Payment Services, although this is a strategically important transaction with significant synergies on the cards, said the analyst who monitors the stock.
He adds that Worldline has significant financial leeway to pursue external growth, and that this acquisition dismisses the scenario of a takeover of Ingenico, which seemed much riskier.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Worldline's managers have agreed to pay quite a lot for Six Payment Services, although this is a strategically important transaction with significant synergies on the cards, said the analyst who monitors the stock.
He adds that Worldline has significant financial leeway to pursue external growth, and that this acquisition dismisses the scenario of a takeover of Ingenico, which seemed much riskier.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.