Berenberg reiterates 'buy' rating on Wise following CMD event
Analysts at Berenberg reiterated their 'buy' rating and 1,240.0p target price on FX transfer specialist on Monday following the group's capital markets day last week.
Berenberg noted that Wise hosted "a well-attended capital markets day" on 3 April, during which it detailed its market opportunity, infrastructure, products, marketing initiatives, platform offering and financial model.
"Key takeaways included detail on its expanding marketing efforts and Wise Platform, which the company expects to contribute over 50% of volumes in the long term," said Berenberg.
The German bank stated it continues to think Wise's "relative scale advantage, best-in-class infrastructure and strategy of returning operational and scale efficiencies to its customers" had left it well-position to be "a winner in the cross-border payments space".
Reporting by Iain Gilbert at Sharecast.com
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