Tyro Payments Price Target Cut 27% to A$2.55/Share by Macquarie, page-7

DJ Tyro May Have to Discount Fees to Rebuild Trust After Outages -- Market Talk

0055 GMT - Tyro Payments is downgraded to underperform from neutral by Macquarie, which
worries about revenue risks and a potential class action related to outages by the firm's
payment terminals. The investment bank lowers its merchant growth and total transaction
volume expectations following the outages, and says Tyro has sustained significant
reputational damage because of the time it took to resolve the issue. Macquarie thinks
Tyro might have to discount merchant fees and terminal rental fees in order to rebuild
trust. It also says a mooted class action could be material and cuts target price 27% to
A$2.55. Shares are down 7.6% at A$2.68. ([email protected]; @StuartLCondie)