Wirecard: Bryan Garnier raises target price

(CercleFinance.com) - Bryan Garnier has reiterated its "buy" rating on Wirecard and has raised its fair value for the share from 97 euros to 110 euros, after the German payment solutions group published its final 2017 accounts.


In particular, the broker emphasizes that management has raised its target EBITDA range for 2018 from 510 million-535 million euros to 520 million-545 million euros (against a consensus of 534.9 million euros), as well as its targets for 2020.

"The current share price is not far from our FV but momentum is good and fundamentals remain strong," Bryan Garnier says, which highlights the recently signed agreement with Crédit Agricole Payment Services.



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