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Berenberg raised its price target on Wise (LON:WISEa) plc (LSE:WISE) to GBP12.70 from GBP12.40 on Tuesday, while maintaining a Buy rating on the money transfer company’s stock.
The price target increase follows Wise’s fiscal year 2025 results released on June 5, which showed reported and cash profits exceeding consensus expectations. The company also reaffirmed both its fiscal year 2026 and medium-term guidance during the results announcement.
A key development from the results was Wise’s decision to shift its primary listing to a U.S. stock exchange while maintaining a secondary listing in London. Berenberg noted this move might create short-term pressure on shares but should benefit the company long-term, particularly if Wise gains inclusion in a U.S. index.
Berenberg highlighted Wise’s "exceptional" operational performance as a primary factor behind the price target increase. The firm made slight upgrades to its volume and underlying profit before tax forecasts for the company.
Wise, which trades over-the-counter in the U.S. as (OTC:WPLCF), offers international money transfers and multi-currency accounts to both individual and business customers.
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