Adyen: up sharply, UBS remains Buy

(CercleFinance.com) - Adyen shares ended the day up by more than 5%.
UBS reaffirms its 'buy' recommendation on Adyen, as well as its price target of 1,700 euros, a target implying a 27% upside potential for the Dutch payment solutions provider's shares.

'Adyen is poised to benefit from the growth of software-based payments in Europe, which could lead to an increase in its existing net revenue growth estimates', the broker highlights in the summary of its note.

Let's recall that PayPal announced at the end of August a strengthening of its global partnership with Adyen.

As a result, Adyen will integrate PayPal's Fastlane to enhance guest payments for its corporate customers in the U.S., with a planned extension internationally.

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