Worldline downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank analyst Johannes Schaller downgraded Worldline to Hold from Buy with a price target of EUR 11, down from EUR 42. The company’s Q3 results were “weak” and macro headwinds played some role here, though the firm does not think the macro situation in Germany is deteriorating as significantly as Worldline seems to suggest, the analyst tells investors in a research note. Management has also cited that it has “tightened its risk appetite policy” and it has terminated some merchant contracts in the light of rising cybercrime and fraud as well as reinforced regulatory guidelines and market constraints, Deutsche Bank added.