Worldline: Invest Securities raises target price

(CercleFinance.com) - Invest Securities reiterates its "buy" rating on the Worldline share, having increased its corresponding target price from 84 euros to 95 euros, having reduced its corresponding risk premium, while maintaining the share of the payment solutions group as a best pick ("IS Selection").


The broker emphasizes that the next catalysts are not so far away (CMD, withdrawal from Terminals business next spring), and that in the meantime, the risk of disappointment around the integration of Ingenico is almost nil.

It continues, saying that above all, the group's medium-to-long-term investment plan remains particularly attractive, with market concentrattion and synergies expected to lead to an EBITDA margin of over 30% (vs. 25% currently).


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