Tiger Brokers

BUZZ-Morningstar backs Aussie Tyro, sees steady growth despite fierce competition

Reuters
Nov 28
BUZZ-Morningstar backs Aussie Tyro, sees steady growth despite fierce competition  

** Morningstar holds its A$1.30 fair value on Tyro Payments TYR.AX, saying the fintech can defend its turf during fierce competition as it pushes into adjacent markets and sharpens its product suite

** Flags investor jitters over the payment gateway provider's grip on non-cash payments, but said its forecasts already bake in the risk

** Investment research firm sees low single-digit volume growth over the next decade, with gains from core merchants tempered by Bendigo merchant attrition

** Looming regulatory shifts could weigh on TYR, but company is better placed to adapt, with its modern platform needing only minor tweaks vs costly overhauls for rivals

** Stock up 28.2%, year-to-date as of last close

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))

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