Report
Richard-Maxime Beaudoux

INGENICO GROUP: Convincing mid-term strategic plan | BUY | EUR82 vs. EUR64 (+20%)

INGENICO GROUP - BUY | EUR82 vs. EUR64 (+20%)
Convincing mid-term strategic plan

Ingenico’s 2021 vision via “Fit for Growth” transformation plan
A revived B&A division by 2021
An acceleration in Retail division by 2021
We maintain our Buy rating and upgrade our FV to EUR82
Underlying
Ingenico Group SA

Ingenico Group is a business technology company, operating in 125 countries. Co. designs, develops and supplies payment terminals, offering mercantile payment solutions, cross-border and global payment services and certified global service platform. Co.'s services are done around Payment terminals and software; Terminal estate management, security application updates; Connectivity ensuring the terminal-to-bank host connection; Full after-sales service taking charge of every phase in the lifecycle of terminals and software; 24/7, from installation, maintenance & repair to upgrades; Centralization of transactions; End-to-end security - from terminal to bank or processor..

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Richard-Maxime Beaudoux

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