Goldman Sachs removed Adyen from the firm’s Conviction List while reiterating a Buy rating on the shares with a price target of EUR 1,150, down from EUR 1,950. The firm says it underestimated the scale of volume reduction from the macro environment and that Adyen is not participating in price reduction in North America. It sees these risks weighing on growth further in the second half of 2023. However, the analyst sees a pathway to Adyen’s growth recovering progressively in 2024.
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Read More on ADYEY:
- FIS downgraded to In Line from Outperform at Evercore ISI
- Adyen price target lowered to EUR 854 from EUR 1,641 at UBS
- Adyen downgraded to Neutral from Buy at Redburn
- Cathie Wood’s ARK Investment bought 736K shares of Adyen today
- Adyen price target lowered to C$1,100 from C$1,800 at Credit Suisse
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