UPDATE: Compass Point Starts Paysafe Group Ltd. (PFSE) at Buy; 'All-In on an iGaming Opportunity'
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(Updated - March 30, 2021 5:46 PM EDT)
Compass Point analyst Michael Del Grosso initiates coverage on Paysafe Group Ltd. (NYSE: PFSE), which is de-SPACing from Foley Trasimene Acquisition Corp. II (NYSE: BFT), with a Buy rating and a price target of $19.00.
The analyst commented, "We are initiating coverage on PSFE with a BUY rating and $19 price target. We believe PSFE represents a relatively scarce asset within the payments industry given its unique business strategy, geographical footprint, and focus on the iGaming industry. Our forecasts imply revenue growth at the high-end of management's guidance and we believe there is upside to our forecasts in the event of state-level legalization of iGaming. PSFE operates in high-growth verticals, has a unique advantage in its consumer and merchant facing solutions, and offers exposure to a secular growth opportunity in the potential legalization of iGaming in the United States."
Shares of Paysafe Group Ltd. closed at $ yesterday.
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