Adyen upgraded to Buy from Hold at Jefferies

Jefferies upgraded Adyen to Buy from Hold with a price target of EUR 1,396, up from EUR 784. The firm is turning more positive on the stock given the company’s unique business model allowing for over 20% in organic revenue growth along with margin expansion, the analyst tells investors in a research note. Since Adyen lowered its mid-term ambition, sentiment has finally converged between sell- and buy-side expectations, likely limiting the short-interest for the time being, Jefferies added.