Reste notre principale conviction- ACHAT - OBJECTIF : 70€ (vs 64€)
La correction technique de fin juin n’aura été que de courte durée, le titre ayant repris depuis +15% sur fond d’annonces favorables, avec en dernier lieu le relèvement hier de la guidance 2017. Pour tenir compte de ce newsflow, nous relevons nos BNA 2017-19e de +0,8%/+2,7%/+4,3% et notre objectif à 70€ vs 64€. A CT, Wirecard reste notre valeur préférée au sein du secteur du paiement au regard des fondamentaux particulièrement séduisants : (i) une dynamique de croissance organique impressionnante (>+20%), (ii) des effets périmètres significatifs sur 2017-18e, (iii) une amélioration de la génération de FCF et (iv) une plus grande transparence financière.Wirecard is engaged in the business of global payment processing, risk management and payment acceptance, as well as card issuing. Co. operates in three segments: Payment Processing & Risk Management, which comprises of products and service for the acceptance or implementation and the downstream processing of electronic payments and the associated processes; Acquiring & Issuing, which includes acceptance (acquiring) and issuing credit cards and prepaid cards, as well as account and payment transaction services; and Call Center & Communication Services, which comprises all of the products and services that address the call centre assisted support of corporate and private customers.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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