JP Morgan lifts Adyen target to street high as it sees "golden period" ahead

Investing.comFeb 14, 2025 2:48 PM

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Investing.com -- JP Morgan raised its price target for Adyen NV (AS:ADYEN) by whopping €1141 to €2,800 given sustained growth and strong earnings leverage shrugging off scepticism over the payment firm's long-term potential.

“Entering a golden period. Sales&earnings growth belies skepticism,” JP Morgan analyst said.

The brokerage noted Adyen's resilience, citing its ability to expand within its guided range, even in a challenging economic climate. It highlighted that with cost growth under control, Adyen could continue to exceed expectations into 2025.

“With multiple drivers helping future growth, it is our top pick in Payments and we remain Overweight,” analyst said.

JP Morgan now values Adyen using a "growth peers" methodology, comparing it to high-growth firms such as Shopify (NYSE:SHOP) and Palantir (NASDAQ:PLTR). While an industry-average multiple would imply a valuation near €4,000, the bank applies a 30% discount, maintaining an "Overweight" rating.

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