Adyen Bears Turn Into Bulls As PayPal Rival’s Rebound Continues
- Notable turnaround for the stock after a historic wipeout
- Adyen has worked to restore confidence, offer visibility
The Adyen NV headquarters in Amsterdam.
Photographer: Ksenia Kuleshova/BloombergThis article is for subscribers only.
The rebound in payment processor Adyen NV is accelerating, with three banks turning bullish on the stock in the past week.
The fintech firm saw its stock jump as much as 3.6% on Friday after Citigroup Inc. analysts named it as a top pick in the payments sector and double-upgraded it to buy from sell. On Thursday, Jefferies International named Adyen among its favored European payment stocks while BMO Capital Markets gave it an outperform initiation earlier this week.