Adyen, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Hannes Leitner from Jefferies maintained a Buy rating on the stock and has a €2,039.00 price target.
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Hannes Leitner’s rating is based on a combination of factors that suggest a positive outlook for Adyen’s stock. The recent data from major US banks like JPMorgan, Citigroup, and Wells Fargo indicate a robust consumer environment, with no signs of weakness. This is evidenced by the year-over-year growth in US card transaction volumes, which accelerated to 6% in the second quarter.
These trends are particularly favorable for Adyen, which has significant exposure to the US market. The consistency in consumer spending, as reflected in the stable core CPI and anticipated retail sales data, further supports the potential for Adyen’s growth in the latter half of the year. As a result, these positive indicators contribute to Hannes Leitner’s decision to rate Adyen with a Buy recommendation.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a €1,716.00 price target.