0840 GMT - Wise PLC has a long runway to capture market share as it invests in growth, J.P. Morgan Cazenove says in a research note. The London-listed cross-borders payments provider has been operating for 15 years and has already captured an impressive 5% of the personal market and around 1% of business, which compares with Adyen's over 5% of global processed payment volume in 19 years, analysts Craig A McDowell and Sandeep Deshpande write. "Continued appreciation of the long-term opportunity (in particular in the Platform business) should also support multiple expansion," they add, pointing to its division which provides payments infrastructure to partners. JPMC initiates the stock with an overweight rating and 1,242 pence target price. Shares rise 1.2% to 961.5 pence amid falling markets. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
March 31, 2025 04:40 ET (08:40 GMT)
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