In a report released today, Glenn Greene from Oppenheimer maintained a Buy rating on Worldpay Inc (NYSE: WP), with a price target of $96. The company’s shares opened today at $90.60, close to its 52-week high of $90.80.
Greene commented:
“WP delivered upside 2Q18 results and raised its FY18 guidance, with ~8% organic/ CC revenue growth and EPS of $1.04 (vs. our/Street’s $0.96/0.95 estimates). Technology Solutions posted strong 17% organic/CC revenue growth with both eCommerce and integrated payments performing well. Merchant growth remains subdued at 3% CC but accelerated vs. 1Q18 results. WP raised its FY18 guidance, now expecting revenue of $3.88-3.93B (+$50M at mid-point) and EPS of $3.93-4.00 (+$0.20 at mid-point). Encouragingly, WP now anticipates $50M of cost synergies in FY18 and outlined potential for $100M of run-rate revenue synergies exiting 2020. With shares trading at ~18x our revised FY19E EPS, we believe WP remains attractive. We maintain our Outperform rating and $96 PT.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 21.4% and a 83.3% success rate. Greene covers the Technology sector, focusing on stocks such as Fidelity National Info, Total System Services, and Global Payments Inc.
Currently, the analyst consensus on Worldpay Inc is a Strong Buy with an average price target of $94, representing a 3.8% upside. In a report released today, Cantor Fitzgerald also maintained a Buy rating on the stock with a $92 price target.
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The company has a one-year high of $90.80 and a one-year low of $67.71. Currently, Worldpay Inc has an average volume of 2.2M.
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Worldpay, Inc. engages in payments processing technology and solutions. Its products include card machines, integrated point-of-sale, virtual terminal, card payments, mobile wallets, accounting integration, ATM services, Treasury services, PCI compliance, EMV and other. The company was founded on January 2018 and is headquartered in Symmes Township, OH.
