BTIG Starts CardConnect Corp. (CCN) at Buy
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BTIG initiates coverage on CardConnect Corp. (NASDAQ: CCN) with a Buy rating and a price target of $14.00.
Analyst Mark Palmer commented, "We are initiating coverage of CardConnect Corporation (CCN) at Buy with a $14 price target based on 11x the company’s FY17E adjusted EBITDA of $46.7mm. We believe CCN differentiates itself by offering small- and medium-sized businesses a bundle comprised of its easy-to-use proprietary payment gateway and its capabilities as one of the largest non-affiliated, non-bank merchant acquirers."
Shares of CardConnect Corp. closed at $9.88 yesterday.
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