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Barclays Initiates Coverage Of Payments Sector, Names PayPal As Top Pick

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Barclays Initiates Coverage Of Payments Sector, Names PayPal As Top Pick

Barclays initiated coverage of 20 stocks in the rapidly evolving payments industry, with PayPal leading as the firm's top pick.

Investors are familiar with payments as an investable, evolutionary story, but often see tech-enabled or software embedded payments as a new high-growth channel, analyst Ramsay El-Assal said in a note. 

Tech enablement is fundamentally transforming the fabric of payments itself, the analyst said. (See his track record here.)

“For us, tech-enabled is a key factor in stock selection, as it should drive long-term growth acceleration, multiple expansion and thus overall returns."

The Ratings

  • Alliance Data Systems Corporation (NYSE: ADS) initiated with an Overweight rating and $254 price target.
  • Automatic Data Processing (NASDAQ: ADP) initiated with an Overweight rating and $168 price target
  • Cardtronics plc (NASDAQ: CATM) initiated with an Overweight rating and $41 price target.
  • EVO Payments Inc (NASDAQ: EVOP) initiated with an Equal-weight rating and $29 price target.
  • Fidelity National Information Servcs Inc (NYSE: FIS) initiated with an Overweight rating and $129 price target.
  • First Data Corp (NYSE: FDC) initiated with an Overweight rating and $24 price target.
  • Fiserv Inc (NASDAQ: FISV) initiated with an Overweight rating and $95 price target.
  • FleetCor Technologies, Inc. (NYSE: FLT) initiated with an Overweight and $245 price target. 
  • Global Payments Inc (NYSE: GPN) initiated with an Overweight rating and $136 price target.
  • Green Dot Corporation (NYSE: GDOT) initiated with an Overweight rating and $103 price target.
  • MasterCard Inc (NYSE: MA) initiated with an Overweight rating and a $240 price target.
  • MoneyGram International Inc (NASDAQ: MGI) initiated with an Underweight rating and $2 price target.
  • Paychex, Inc. (NASDAQ: PAYX) initiated with an Equal-weight rating and $70 price target.
  • PayPal Holdings Inc (NASDAQ: PYPL) initiated with an Overweight rating and $110 price target.
  • Square Inc (NYSE: SQ) initiated with an Overweight rating and $96 price target.
  • Total System Services, Inc. (NYSE: TSS) initiated with an Overweight rating and $113 price target.
  • Visa Inc (NYSE: V) initiated with an Overweight rating and $170 price target.
  • The Western Union Company (NYSE: WU) initiated with an Underweight rating and $18 price target.
  • WEX Inc (NYSE: WEX) initiated with an Overweight rating and $211 price target.
  • Worldpay Inc (NYSE: WP) initiated with an Overweight rating and $108 price target.

Related Links:

Wedbush Names PayPal As A 'Best Idea,' Projects 20% Upside

PayPal Stands Out In Crowded Online Payments Space, Atlantic Securities Says In Upgrade

Latest Ratings for PYPL

DateFirmActionFromTo
Nov 2020RosenblattMaintainsBuy
Nov 2020DZ BankUpgradesHoldBuy
Nov 2020Credit SuisseMaintainsOutperform

View More Analyst Ratings for PYPL
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