Morgan Stanley notes the volume of downloads in the company’s mobile app has increased recently, recovering to levels before the terminal outage. This also coincides with new merchant application growth. The broker estimates the Tyro Payments app has a 30-40% penetration rate amongst its merchants. Hence, the weekly app download is considered a useful indicator of merchant acquisitions and this is critical to the broker’s thesis.
Overweight rating. Target price is $4.10. Industry view is Attractive.
Sector: Software & Services.
Target price is $4.10.Current Price is $3.19. Difference: $0.91 – (brackets indicate current price is over target). If TYR meets the Morgan Stanley target it will return approximately 22% (excluding dividends, fees and charges – negative figures indicate an expected loss).
@Linkt Sorry I couldn't cut and paste the link as hot copper blocks it. See the excerpt above. You can also google 'Morgan Stanley Tyro', as a few business news websites also covered the upgraded note.
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