Ingenico: Invest Securities adjusts target price

(CercleFinance.com) - Invest Securities maintains its "neutral" rating on the Ingenico stock, having trimmed its target price from 86 euros to 84 euros, after a very positive reaction to Verifone's 3.
4 billion dollar acquisition by private equity funds.

The transaction highlights Ingenico's undervaluation if it were to be bought, although in the broker's opinion would not rekindle speculation in the near term, says the analyst who monitors the stock. Indeed, he cannot see French politicians accept a takeover by private equity funds - particularly if from outside Europe.

Invest Securities believes that neither Worldline nor Wirecard seems to be especially interested in Ingenico in the near term. The broker therefore continues to believe that Ingenico will remain a value stock, lacking momentum.


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