Nomura Raises Worldpay (WP) PT To $120 After Hosting Management/Investor Meetings

Nomura/Instinet analyst, Dan Dolev, reiterated his Buy rating on shares of Worldplay Inc. (NYSE: WP) and raised his price target to $120 from $105 after hosting investor meetings with Worldpay’s CEO Charles Drucker, CFO Stephanie Ferris & Nate Rozof, SVP of IR and M&A. Management conveyed an upbeat tone, laying out its
focus on mending the legacy WP U.S. & U.K. businesses, driving revenue and cost synergies, and expanding into secular growth areas like e-commerce, with a lesser focus on brick and mortar.

The analyst stated "Given management’s confidence in achieving $100mn in revenue synergies by year-end 2020 and $200mn of cost synergies (we previously estimated that ~$250mn would be feasible too), we are raising our long-term estimates and TP to $120".

For an analyst ratings summary and ratings history on Worldplay Inc. click here. For more ratings news on Worldplay Inc. click here.

Shares of Worldplay Inc. closed at $94.49 yesterday.

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