(CercleFinance.com) – The stock ended the session down nearly 0.8% as Berenberg lowered its price target on the stock today, bringing it down from 100 to 70 euros, while reiterating its buy recommendation on the stock following what he believes to be ‘solid trading volumes’ for the first quarter.
In a research note, the intermediary judges that the specialist in payments is able to regain the confidence of investors provided that it achieves its objectives of growth and improvement of margins in the second half.
Berenberg believes that Worldline will also have to demonstrate its ability to take advantage of the current recovery in offline transactions, the travel market and cross-border operations.
The analyst justifies the reduction of its target price by the downward revision of its forecasts of results for 2022 and 2023 on the background of rising costs and the slower than expected recovery of margins in payment solutions for financial institutions .
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