Adyen upgraded to Outperform from Market Perform at TD Cowen

TD Cowen upgraded Adyen to Outperform from Market Perform with a price target of EUR 1,740, up from EUR 1,120. Adyen has “put to rest prior concerns” on growth compression and competitive commoditization, the analyst tells investor sin a research note. The firm says multiple levers are set to reaccelerate Adyen’s “top-tier” growth over the near-term, while its completed hiring cycle should enable rising profitability through 2026.