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Worldpay downgraded by Barclays

31 May 2017 15:29

Barclays Capital has downgraded its recommendation on Worldpay Group (LON:WPG) to equal weight (from overweight), stating that it cannot find enough upside to warrant a price target increase and highlighting some concerns regarding the organic growth trend.

The bank added: "Despite slowing growth, the stock has performed well and is up 18% YTD, outperforming the FTSE100 (+6%) and our European payments coverage (+15%).

"With the stock at our price target and trading at 20x our FY18E EPS, we cannot find further upside to warrant a price target increase.

"We therefore take a pause and downgrade the stock to EW on unchanged estimates."

Price target remains at 315p per share.

At 3:29pm: (LON:WPG) Worldpay Group Plc share price was -3.4p at 312.1p

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