Citi positive on European payments into 2025 backed by e-commerce
** Citi Research expects the European payments sector to trend positively into 2025, particularly in e-commerce, but remains cautious in other areas of fintech where it sees some steadying growth as segments mature
** The broker expects macro environment turning more supportive for payments, with consumer spending still uncertain in 2025
** However, sees online transactions to exceed trends, while expecting low in-store expectations
** Citi believes that secular growth in electronic payments will continue, driven by ongoing shift away from cash, with payments becoming increasingly complex, greater cross-border activity and supportive regulation
** The broker says it is positive on firms exposed to e-commerce given robust online spending trends and expectations of a more rational price competition, with Adyen ADYEN.AS as its top pick
COMPANY | RATING | PT |
|---|---|---|
Adyen ADYEN.AS | Buy | EUR 1,512.60 |
Edenred EDEN.PA | Neutral | EUR 31.65 |
Nexi NEXI.PA | Buy | EUR 5.80 |
Pluxee PLX.PA | Buy | EUR 20.43 |
Temenos TEMN.S | Neutral | SFr 59.65 |
W.A.G payment solutions WPS.L | Buy | GBp 0.83 |
Wise PLC WISEa.L | Sell | GBp 9.35 |
Worldline SA WLN.PA | Buy/High-risk | EUR 8.16 |
Reporting by Hugo Lhomedet
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