Barclays upgrades Wise to ‘overweight’
Barclays upgraded Wise on Tuesday to ‘overweight’ from ‘equalweight’ and lifted the price target to 1,000p from 800p.
“Wise's diversification offers sufficient levers to continue growth more than 20% mid-term at a circa 25% margin, even excluding excess NII," the bank said.
"Coupling underlying momentum with a short-term NII tailwind, we are 8/9% ahead of FY25/26 consensus earnings per share and see the de-rating as an opportunity to buy a high-quality compounder at a compelling valuation."