BMO Capital lowered the firm’s price target on Nuvei (NVEI) to $93 from $112 but keeps an Outperform rating on the shares. The analyst updates the firm’s model after the closure of Nuvei acquisition of Paya Holdings (PAYA), stating that the earnings accretion from Paya is more than offset by growth deceleration and consequent valuation multiple dilution. The firm adds however that Nuvei remains its top recommendation among its peers as an "organic share gainer" with a strong balance sheet to enable further accretive acquisitions.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on NVEI:
- Nuvei expects total volume, revenue, adjusted EBITDA to be in line with outlook
- Nuvei Completes $1.3 Billion Acquisition of Paya
- Nuvei completes $1.3B acquisition of Paya Holdings
- Nuvei and Mercedes-AMG PETRONAS Formula One Team join forces ahead of new Formula One™ season
- Nuvei, Mercedes-AMG PETRONAS Formula One Team enter partnership