According to AFR
https://www.copyright link/markets/equity-markets/asx-to-drop-european-shares-tumble-as-outbreak-worsens-20200922-p55xwd
Bell Potter is tipping Laybuy will be a key beneficiary of the significant opportunity in the buy now, pay later sector, anchored by its strong footprint in the highly attractive UK market.The broker initiated coverage on the ASX newcomer, slapping a buy recommendation on the stock and giving it an initial price target on $2.40, 38.7 per cent above its Monday closing price of $1.73.Laybuy co-founders Alex Rohloff (left) with his father Gary Rohloff. Supplied"We believe there remains significant opportunity in the buy now, pay later sector (BNPL) and see Laybuy as appropriately positioned to be one of the beneficiaries," said analyst Lafitani Sotiriou."We see the competitive landscape more through the lens of the BNPL sector versus the established credit card market and see this opportunity as highly attractive. It has strong partnerships with merchants, Mastercard, Premier League Clubs and has an established footprint, particularly in the highly attractive UK market."The broker said the rapid growth it was expecting for the company would be driven primarily by its successful UK expansion, where Laybuy has launched with major retails and formed a number of strategic partnerships."Through their partnership with MasterCard, Laybuy will offer digital cards to Laybuy customers in New Zealand, UK and Australia by the end of this calendar year," said Mr Sotiriou."These initiatives aim to alter existing in-store payment processes into one that is quicker and easier for customers, will allow for more rapid instore rollout and may create a new revenue opportunity through its any payment solution."
Note, Bell Potter were also the one doing the IPO, so this isnt a surprise either, DYOR....
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- Ann: Investor presentation including July/August revenue update
Ann: Investor presentation including July/August revenue update, page-22
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