Tyro Payments Price Target Cut 27% to A$2.55/Share by Macquarie, page-9

Macquarie bank - classic shorter and certainly no morals at this back just check there history. To answer the points made:

1. Merchant growth to be lowered - perhaps for a month or two. In three months nobody will know or remember.
2. Transaction volume to be lowered - no chance, with the vaccine roll out happening and covid under control, more people using cards than ever (not even counting on Bendigo & Adelaide bank volume) there is no chance volume will decrease per previous growth rates. Previously people used cash and I am pretty sure people don't want to use cash go forward (with the disease transferred on bank notes and coins).
3. Bendigo & Adelaide bank terminals were factored in before covid. Imagine the volumes growth now that people aren't using cash.
4. Reputation damage? Many of the banks terminals didn't work on many occassions last year. Which on suffered? Westpac did all those overseas transactions and SP took a hit and now its growing.
5. If you trade based on target price recommendations then your in for a world of hurt. TP are always subject to change and not worth the paper they are written on. Unless you have significant skin in the game its pointless.