Adyen: shares rise after upgrade

(CercleFinance.com) - Adyen shares rose on Wednesday after Bank of America Merrill Lynch upgraded the Dutch fintech firm to "buy.
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Merrill said the stock price does not appear to be accounting for any material growth contribution from new merchant wins.

The broker also cited an "attractive" valuation, noting that the current share price suggests over 25% upside potential.

Adyen shares - which belong to Amsterdam's AEX benchmark index - were up 0.5% at 656 euros in late morning trading.

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