Wirecard: Invest Securities downgrades rating

(CercleFinance.com) - Invest Securities has downgraded its rating on Wirecard from "neutral" to "sell," while raising its target price from 123 euros to 145 euros, judging the valuation of the German group of payment solutions "excessive, despite its short-term momentum".


Having been integrated into the DAX last Thursday, the Wirecard share has seen an additional acceleration since the IPO of Adyen (+46%), bringing its valuation to historic levels, the analyst who monitors the stock points out.

While it is not worried in the near term, the broker has mentioned its fears about increased pressure on medium and long-term commissions, fears which explain why it is uneasy regarding the share's current valuation level.


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