Citi reiterated its ‘buy’ rating on shares of payments technology group Network International on Monday, sending the shares higher.
The bank, which has a 550p price target on the stock, said conditions for international card spend appear to have tightened recently, while new opportunities around domestic card spend are emerging.
“At the same time, the local competitive landscape appears to be stabilising. While Network’s stock price has underperformed global payments and MENA financials/tech peers, we see several upcoming catalysts likely driving positive share price performance.”
At 1555 BST, the shares were up 1.9% at 373p.
