APT – Macquarie rates the stock as Outperform

Macquarie envisages more catalysts beyond the US affiliate program will drive a re-rating, such as Afterpay Money, a new reward scheme, the roll-out in the EU and offshore investments.

The broker increases FY22-23 revenue estimates by 2-6%. While maintaining an Outperform rating Macquarie acknowledges the stock is no longer looking “cheap” versus peers in the segment, but is not overpriced either. Target is raised to $140 from $120.

Sector: Software & Services.

 

Target price is $140.00.Current Price is $118.17. Difference: $21.83 – (brackets indicate current price is over target). If APT meets the Macquarie target it will return approximately 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →