Credit Suisse Sees Balanced Risk-Reward At Paysafe's Current Share Levels

October 25, 2021 4:36 PM | 1 min read | Make a Comment

Credit Suisse analyst Timothy Chiodo downgraded Paysafe Ltd PSFE to Neutral from Outperform with a price target of $9, down from $12, implying a 19% upside.
The analyst sees a more balanced risk/reward at current share levels and minimal upside potential to 2022 and 2023 organic estimates.
Since Paysafe updated its medium-term outlook in March, Chiodo has learned of "unexpected shedding" of direct marketing merchants, deterioration in the integrated processing take rate, and "substantially lower-than-expected" digital wallet volume.
These suggest minimal upside to Street estimates and potential downside risk, says the analyst.
Price Action: PSFE shares closed lower by 6.91% at $7.54 on Monday.

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