(CercleFinance.com) – Worldline gained nearly 2.5% in Paris, as Morgan Stanley raised its recommendation on the stock this morning from ‘weight online’ to ‘overweight’, with an unchanged price target of 51 euros.
In a research note, the analyst believes that the specialist payment services stock has all the attributes of the so-called ‘growth at a reasonable price’ (GARP) investment philosophy.
‘Worldline offers both attractive and defensive growth characteristics, supported by rising inflation and structural factors (erosion of cash, growing card use, market share gains at the expense of banks)’, underlines he in the note.
‘With a PER to 2024 of 13x for organic growth of 8% to 10% and growth in the operating margin before amortization and depreciation (OMDA) around 15%, we see all the qualities specific to the GARP concept’, concludes the intermediary.
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