This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Worldpay Group
Worldpay Group (WPG)
Worldpay Group (WPG) is a global online payment processing company. The Company offers technology platforms that enable merchants to accept credit and debit card payments in-store, online, over the phone and on smart phones. Shares have met resistance around 280p and have performed in a lacklustre manner amid consumer confidence wobbles post-Brexit vote.
There are 16 brokers currently following Worldpay Group, 11 of which are rating the stock at ‘buy.’ The most bearish price target is less than 1% below current levels. However, the average target price is seeing 13% upside from here (Source: Bloomberg, 14 July).
If the price does indeed cover that ground, it would keep in play the sideways channel in which shares have traded since the Worldpay Group IPO in Oct 2015.
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Prepared by Michael van Dulken, Head of Research
