In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Thunder Bridge Acquisition Ltd (TBRG), with a price target of $15. The company’s shares closed yesterday at $10.37.
Grondahl commented:
“We are initiating coverage of Thunder Bridge Acquisition, Ltd. / REPAY with an Outperform rating and $15 price target based on 19.0x 2020E adj. EBITDA of $52.9M. We believe REPAY represents a compelling opportunity as a merchant acquirer in targeted verticals (personal loans, auto loans, receivables management) with tailwinds from a continued shift toward digital payments and specifically the use of debit card payments instead of checks…”
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 20.7% and a 60.5% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Health Insurance Innovations.
Thunder Bridge Acquisition Ltd has an analyst consensus of Hold.
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The company has a one-year high of $10.60 and a one-year low of $9.60. Currently, Thunder Bridge Acquisition Ltd has an average volume of 566K.
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Thunder Bridge Acquisition Ltd. operates as a blank check company for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Its services include asset and wealth management, lending and leasing, and providing financial technological services.
