Ingenico: Morgan Stanley raises target price.
(CercleFinance.com) - While raising its price target from 70 euros to 75 euros, Morgan Stanley maintained its "underweight" rating on Ingenico, seeing further earnings risk in 2017.
In a note sent to clients, the brokerage firm says that the French payment services provider's recent stock rally has been driven by in-line 2017 guidance, which was "better than feared."
However, Morgan Stanley says it perceives risks of a further downgrade to both 2017 and long-term targets.
Indeed, the new target price still suggests 15% downside.
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