Adyen upgraded to Overweight from Underweight at Wells Fargo

Wells Fargo double upgraded Adyen to Overweight from Underweight with a price target of EUR 1,000, up from EUR 650. The company’s “far better-than-expected” Q3 print and commentary around the shape of growth and margins for the next two years suggests the first half of 2023 “noise was just that, noise,” the analyst tells investors in a research note.