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On Wednesday, TD Cowen reaffirmed its confidence in Adyen NV (AS:ADYEN:NA) (OTC: ADYYF), a prominent global payments and fintech provider, by maintaining a Buy rating and a price target of EUR2,103.00. The firm highlighted Adyen’s superior technology and unique banking strategy as key factors contributing to the company’s ability to continue gaining market share, despite the broader macroeconomic uncertainties.
Adyen’s attractive Total (EPA:TTEF) Cost of Ownership (TCO) proposition and its track record of meeting high revenue growth targets are seen as strong supports for the company’s ongoing share gains. TD Cowen analysts expect Adyen to achieve over 20% growth combined with margin expansion, leading to high-20 to low-30% growth in earnings per share (EPS) and EBITDA. According to the firm, Adyen’s shares are attractively priced at 21.5 times EBITDA.
The analysts at TD Cowen consider Adyen to be one of the most appealing investment opportunities in the global payments sector. They attribute this to the company’s modern, wholly native technology stack and holistic banking license strategy, which provide significant competitive advantages. These strengths are expected to drive growth rates accelerating to the mid-20% range.
TD Cowen’s analysis suggests that Adyen is relatively shielded from macroeconomic headwinds, as its growth is primarily fueled by wallet share gains and a land and expand strategy. The firm’s stance reflects a belief in Adyen’s continued success and resilience in the face of potential economic challenges.
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