UBS believes there could be significant positive medium-term implications from EML Payments providing its payment platform
to Up Spain, one of the three largest providers in Spain.
The analyst notes the transaction provides entry into the $88bn employee benefits market in Europe and provides a base to sign up
other Up Group geographies within and outside Europe.
Up Spain is a subsidiary of the Up Group, which offers employee benefits and incentive programs in 28 countries.
The broker maintains its Buy rating and $4.55 target.
Sector: Software & Services.
Target price is $4.55.Current Price is $2.35. Difference: $2.20 – (brackets indicate current price is over target). If EML meets the UBS target it will return approximately 48% (excluding dividends, fees and charges – negative figures indicate an expected loss).
