Goldman Sachs bullish on payment firms on revenue growth potential

Nuvei

10/01/2023 12:10

** Goldman Sachs upgrades payment technology co Shift4
Payments Inc  FOUR.N  and Canadian fintech company Nuvei Corp
 NVEI.TO  to "buy" from "neutral"
    ** Also raises PT for FOUR to $67 from $48; says co
well-positioned to continue growth in 2023 on expansion into new
geographies and verticals, and gateway conversion strategy
    ** Brokerage's upgrade for NVEI reflects co's potential to
drive growth in end markets in second half of 2023 
    ** Says NVEI will be more resilient towards forex trading
and gaming as the online nature of these verticals is less
cyclical than traditional gaming
    ** GS also upgrades fraud management service Riskified Ltd
 RSKD.N  to "neutral" from "sell" on potential accelerated
revenue growth in FY23, driven by co's cost control measures
    ** U.S. listed shares of NVEI were down 60.9% in 2022
    ** Shares of RSKD and FOUR were down 41.2% and 3.4%
respectively in 2022
 (Reporting by Shristi Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))