BofA sees CompoSecure dominating metal card space, starts with a Buy

As previously reported, BofA initiated coverage of CompoSecure with a Buy rating and $9 price target. Composecure designs, manufacturers, and distributes metal payment cards for 8 of the top 10 U.S. card issuers and commands about 83% market share, notes the analyst. The firm thinks it stands to further dominate the space as metal card issuance soars, while also noting that it is growing its Arculus security and authentication services to address the rising threat of card fraud.