Today we published a note on Adyen, highlighting some of the sector trends we see at enterprise-level merchants and peers. We appreciate Adyen’s strong positioning in a market that will continue to see activity shift away from incumbent players, supporting Adyen’s high growth. Several market trends that we expect to become more prevalent going forwards, counter some of the key selling points of the Adyen platform. With this longer-term view, we believe many of the TPs on the street are too bulli...
Adyen: 1.25% of share total issued for eBay warrant Brederode: Another private equity boost CFE: Flash Note: Unlocking the true potential – finally... Crescent: Ambition is to enable the next IoT transition Quest for Growth: NAV of € 10.34 ps Smartphoto group: Acquiring online personalised gift packages player UCB: The BD machine is on a roll
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
In this slideshow we introduce ESG ratings on the payments sector. In this industry, environmental issues take a step back compared to social and governance ones. Indeed, due to its highly regulated nature and the fast pace of innovation, employee satisfaction, retention, training, and supervision is of the utmost importance. Edenred and Worldline both provide a slew of data, and have clear quantified targets for the future. Both have been assigned green rating in all categories. On the contrary...
ADYEN - BUY Top Picks | EUR2500 VS. EUR2000 (+14%) A structural winner in the payments industry FY2021 to follow in the footsteps of H2 2020 Product, vertical, channel and geographic expansion to drive volumes The right strategy paired with flawless execution
Adyen: Expanding to the Middle East Barco: Demetra available in the US market Biocartis: European launch of SARS-CoV-2 assay Galapagos: First patient treated with GLPG3667 IO&W: 3Q20: One-offs have no material impact on valuation Recticel: Alea iacta est: FoamPartner deal defines strategy
Payments & Security With Q3 over, all eyes are already turned to Q4 and 2021 For Q4, online exposure remains key Adyen: slightly disappointing on growth, but high EBITDA margin Worldline: no surprise, in-line with expectations Ingenico: a touch below expectations, Q4 recovery to be smoother than expected Settlement of the Worldline/Ingenico transaction, and revised governance
AB InBev: Solid beat in 3Q with resilient performance Adyen: Accounting error insuring FY20 CSS beat AEGON: Sale of Pyramid bags another $ 390m to deleverage Arcadis: Outstanding 3Q20 operational performance ASM International: Another strong earnings release / FY outlook raised Befimmo: 3Q20 / 9M20 results Telenet: In line Q3 results / new DPS targets well above exp.
With the world on the verge of a second wave of Covid-19, we present two new lists to guide investors through these uncertain times. The first consists of a selection of the ‘15 most vulnerable companies in case of a second wave’ while the second identifies the ’15 safest companies in case of a second wave’.
Adyen: Upgraded TP, Reduce confirmed Ageas: FCA pricing review: UK ops contribution below 10% Biocartis: € 1.2m grant for GeneFusion assay Corbion: Issuance of $ 170m USPP notes program Crescent: 1H impacted by Covid-19; cautiously optimistic DSM: Sale of Resins & Functional Materials for € 1.6bn Galapagos: Toledo takes on psoriasis first Kiadis: 1H20 results: gearing up for clinical trials Umicore: Streamlining of Cobalt&Specialty Materials business
Adyen: 1H20 results; downgrade to Reduce Argenx: Rising interest from pharma for auto-immune space Boskalis: Strong operational result for 1H20 Kinepolis: Responded quickly and decisively to the crisis Leasinvest RE: 1HY20 results, outlook reassuring
In this update, we discuss: 1/ the coronavirus impact on the cash-to-digital transition, notably as contactless payment limits have been increased, 2/ the penetration of online payments, 3/ the impact these trends have had on valuation levels in Europe and the US, 4/ our adoption of a multi-dimensional beta methodology, and its impact on our fair values. The coronavirus outbreak is merely accelerating already visible trends in the payments market. However, we estimate the cash-to-digital transit...
Adyen: Covid-19 is killing cash payments Arcadis: Weathering the storm well so far Boskalis: Oil my glut – adjustment investment case CFE: Oil my glut – adjustment investment case Econocom: 1Q20 trading update Euronext: Expansion into Nordics continues Miko: Huge difference of impact between the two branches Mithra: Capital Commitment secured for € 50m with LDA Sioen: 3.4% revs decline in 1Q20, 35% sales drop in Apr’20 Various: Oil my glut
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