'That day is now': Degroof Petercam raises Adyen to 'buy'

Adyen

13/02/2026 10:48

** Degroof Petercam upgrades Dutch payment processing company Adyen ADYEN.AS to "buy" from "hold", citing an appealing risk/reward profile after a massive share derating

** The brokerage states "we always held the conviction that ... the multiples would become appealing. That day is now!" despite lowering its PT to 1,300 euros from 1,500 euros

** Degroof Petercam notes the shares lost nearly 60% over five years despite strong sales growth, as aggressive hiring limited operating leverage and weighed on margins

** Despite cutting its FY26 and beyond estimates, the broker sees the new valuation on 2027/2028 multiples as attractive for a company still poised for healthy growth

** Out of 35 analysts covering Adyen, 28 rate the stock "strong buy" or "buy", ​six "hold" and one "sell" - LSEG data

 (Reporting by Clement Martinot)

 ((Clement.Martinot@thomsonreuters.com;))