Morningstar backs Aussie Tyro, sees steady growth despite fierce competition

Morningstar holds its A$1.30 fair value on Tyro Payments TYR.AX, saying the fintech can defend its turf during fierce competition as it pushes into adjacent markets and sharpens its product suite

Flags investor jitters over the payment gateway provider's grip on non-cash payments, but said its forecasts already bake in the risk

Investment research firm sees low single-digit volume growth over the next decade, with gains from core merchants tempered by Bendigo merchant attrition

Looming regulatory shifts could weigh on TYR, but company is better placed to adapt, with its modern platform needing only minor tweaks vs costly overhauls for rivals

Stock up 28.2%, year-to-date as of last close