Adyen initiated with a Buy at Truist

Truist initiated coverage of Adyen (ADYEY) with a Buy rating and EUR 1,875 price target As the company with the top score in the firm’s proprietary ‘Truist Securities Payments Quality Index,’ “we clearly like the business,” says the analyst, who expects the narrative around Adyen to continue to be a good one and believes that should drive relative multiple expansion. Adyen is “arguably the safest payments stock to own in an economic slowdown,” the analyst tells investors.