Adyen: shares up after analyst initiates with 'buy' rating

(CercleFinance.com) - Shares in newly floated Dutch fintech company Adyen rose on Wednesday after Berenberg attributed a "buy" rating to the stock, with a target price of 590 euros.


The German broker said in a report that the market is underappreciating a number of the company's other strengths beyond its "strong" integrated single platform.

The research note says that the company can maintain its competitive edge versus peers, including start-ups, because its technology solution will remain "ahead of its rivals".

Adyen shares are currently up 1.8% at 488.2 euros after these comments. They have now doubled from their IPO price of 240 euros.

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