Australia's Tyro Payments gains as Morningstar flags steady growth despite fierce competition

Shares of Tyro Payments TYR.AX rise as much as 2.2% to A$1.068, hitting their highest since November 13

Morningstar holds its A$1.30 fair value on Tyro Payments, 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 says 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 31% YTD, including the day's moves