UBS lowers its recommendation on the stock to Sell (from Buy) with a sharply reduced target price of E12 (from E48).

' The Worldline Group revised downwards its sales forecasts for 2023 (+8-10%) and for the medium term 2021-2024 (+9-11%) following its third-quarter results. The share then fell by ~70%, recovering ~10-15% of the value lost over the past week ' says UBS.

The payment solutions group's sales reached 1.18 billion euros in the third quarter, representing organic growth of 4.8%, mainly driven by its merchant services division (+7.6%, of which +10% excluding Germany).

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