BUZZ-Jefferies cuts PT for Australia's EML Payments after weak quarterly update
Reuters
Nov 20
BUZZ-Jefferies cuts PT for Australia's <a href="https://laohu8.com/S/EMCHF">EML Payments</a> after weak quarterly update
** Jefferies cuts price target for EML Payments EML.AX to A$1.0/share from A$1.40 after weak Q1 trading updates
** Brokerage cites lower market risk appetite following the update as a reason for PT downgrade; retains "buy" rating
** Payment solutions provider reported 42% drop in underlying EBITDA for first quarter and 2% decline in total revenue on Wednesday
** Jefferies sees normalisation of rate cut cycles as a potential headwind for EML
** Most analysts covering the stock rate it "buy" or higher; their median PT is A$1.20 – LSEG data
** Stock up 4.8% this year
(Reporting by John Biju in Bengaluru)
((John.Biju@thomsonreuters.com;))
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