Redburn Atlantic downgraded Worldline to Neutral from Buy with a price target of EUR 12, down from EUR 40. The analyst says Worldline is “suffering pronounced challenges” in Germany amid macro, regulatory and seemingly significant company-specific pressures. In addition, management’s new expense reduction plan result in the firm’s 2024 free cash flow estimates dropping to 60% below prior consensus, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on WRDLY:
- Worldline price target lowered to EUR 23.90 from EUR 55 at JPMorgan
- Worldline price target lowered to EUR 12.20 from EUR 33.50 at Barclays
- Worldline downgraded to Underweight from Overweight at Morgan Stanley
- Worldline downgraded to Hold from Buy at Deutsche Bank
- Affirm, Block selloffs on Worldline warning ‘unmerited,’ says Mizuho