Worldline: Invest Securities trims target price

(CercleFinance.com) - In a note released this Friday morning, Invest Securities has trimmed its target price for the Worldline stock from 36 euros to 35 euros, while confirming its "neutral" rating.


While rumours of a takeover bid from Ingenico reappeared yesterday, we are skeptical about the merits of this transaction, says the analyst who monitors the stock, who would "clearly" prefer a takeover by the Swiss company SIX, as it is cheaper and above all has a business positioning that is much more in line with the group's strategy that has been announced since 2014.

Unless Worldline manages to seize the Swiss group, the broker does not see any reason to change its opinion, Invest Securities says, which in addition has recently reduced its 2018/2020 EPS forecasts (by -7% to -9%) to take into account items below Ebitda, with the broker expecting a “relatively weak” first quarter of 2018.



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