KBC Securities - ADYEN (ADYEN NA) ... ADYEN - KBC Securities Company Flash 01-02-2019 - A strong company but dont overpay!

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KBC Securities

Thomas Couvreur

ADYEN - KBC Securities Company Flash 01-02-2019 - A strong company but don't overpay!

Adyen has seen a strong rally in recent weeks, realizing our expected 26% upside at initiation. The current price however is exaggerated given that we see no fundamental reason to support this price level. We therefore change our recommendation to Reduce, keeping our target price as is at â‚¬555 signifying a 15% downside.

01/02/2019 9 EN

Underlyings

ADYEN

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ADYEN NV

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Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Thomas Couvreur

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ADYEN - KBC Securities Company Flash 01-02-2019 - A strong company but don't overpay!

We are a financial services provider for several types of professional clients, each with distinct needs.

Morning Note: ADYEN NA

ADYEN: Prudence warranted from sector trends headwinds ADYEN NA

ADYEN (BUY, TP EUR2,900) | eBay acquires 1.25% of Adyen by exercising the first tranche of its warrants

Umicore Feedback FY25 results conference call

Morning Notes : COFB BB, GLPG NA, UMI BB

Cofinimmo FY25 results above expectations, guidance below

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