(CercleFinance.com) – The stock ended down almost 0.6% after Stifel’s negative analysis. The analyst announced Monday that he had lowered his recommendation on Stifel shares to ‘hold’ versus ‘buy’ previously, and had drastically reduced his price target on the stock.
In a note devoted to the payments sector, the analyst mentions a lack of visibility on the Dutch group’s results for the next 12 months, anticipating performances which should remain under pressure.
‘If we believe that in the medium term, Adyen remains on track to become one of the greatest ‘success stories’ in payment services thanks to the superiority of its multi-channel approach, the advancement of its technology in line and its continued investments in innovation, no catalyst is expected to materialize over the next 12 months,’ warns the research office.
The intermediary therefore lowers its target to 720 euros compared to 1,900 euros until now.
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