Swissquote: Rises on strong H1, Helvea upgrade

Swissquote Holding SA

31/07/2018 09:19

** Shares in Swiss fintech company Swissquote  SQN.S  up >8
pct after H1 results
    ** Stock near top of SPI Swiss Performance Index  .SSHI 
    ** Co reports H1 operating revenues up 30.3 pct, net profit
up 43.9 pct  urn:newsml:reuters.com:*:nFWN1UQ17J
    ** Co increases growth forecast for both revenues and profit
from 10 pct to 15 pct
    ** Helvea Baader Bank upgrades SQN to "buy" from "hold,"
raises target price to SFR 70 from SFR 45
    ** Broker says SQN reported strong H1 figures, which confirm
very strong, broadly based momentum in the business
    ** Says substantially improved investor sentiment towards
SQN shares is likely to persist for longer, reflecting clear
proof of sustainable fundamental performance
    ** More than 1.5x 30-day avg volume traded in early trading;
shares up ~66.4 pct YTD

 ((geetha.panchaksharam@thomsonreuters.com))