UPDATE: Truist Securities Starts Paya Holdings (PAYA) at Buy
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Truist Securities analyst Andrew Jeffrey initiates coverage on Paya Holdings (NASDAQ: PAYA) with a Buy rating and a price target of $15.00.
The analyst comments "We see Paya fitting our digital adjacent FinTech growth thesis. The co is a leading tech-enabled vertical market merchant acquirer. As detailed in a recent industry report, we submit digital adjacent acquirers will take economic share from legacy processors by offering differentiated integrated software and payment solutions in a nearly $8t US ePayments TAM. We like Paya's vertical market offerings in B2B, healthcare, government, non-profit and education. We also note Paya has the largest B2B rev footprint of the digital adjacent names in our space. This will support above-avg l-t organic rev, EBITDA and FCF growth, in our view."
Shares of Paya Holdings closed at $10.41 yesterday.
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