(CercleFinance.com) – The title Adyen is moving down sharply on Wednesday on the Amsterdam Stock Exchange, victim of a downgrading of recommendation from UBS.
Around 12:00 p.m., the action of the Dutch ‘fintech’ fell by 2.7%, signing the largest drop in the AEX index.
In a note released in the morning, UBS indicates that it has downgraded its advice on the value to ‘neutral’ against ‘buy’ previously, with a price target however raised from 1600 to 1641 euros.
The consultancy said it was concerned about possible downward revisions to consensus forecasts due to the slowdown in the e-commerce sector, which it said was accompanied by increasingly fierce competition in the payment market.
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