UPDATE: Compass Point Starts Paysafe Group Ltd. (PFSE) at Buy; 'All-In on an iGaming Opportunity'

(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."

For an analyst ratings summary and ratings history on Paysafe Group Ltd. click here. For more ratings news on Paysafe Group Ltd. click here.

Shares of Paysafe Group Ltd. closed at $ yesterday.

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