Adyen Price Target Up as BMO Notes 'Refreshingly Strong' H1 Trends; Outperform Rating Kept

04:22 AM EDT, 08/14/2026 (MT Newswires) -- BMO Capital Markets lifted its price target for Adyen (ADYEN.AS), noting "refreshingly strong" trends in the Dutch financial technology group's first-half results. "Adyen delivered in 1H, with accelerating growth above expectations, and several noteworthy wins ([Toast] expansion, OpenAI). While Adyen has been investing in capabilities beyond core processing for years, for the first time management defined itself as 'the complete financial operating system for modern commerce,' which we interpret as a signal that the avenues for new growth are widening," according to a Thursday note. "We have added conviction in Adyen's enviable market position; reiterate Outperform rating on shares and raise our target price from EUR1,100 to EUR1,350 based on 28x '27E EPS of EUR47.51." The research firm said Adyen's volume and revenue growth "accelerated admirably" amid a better-than-expected recovery for its digital business and a fourth consecutive quarter of "surging" platform growth. For the six months ended June 30, Adyen reported net revenue of 1.30 billion euros, up 19% year over year and 21% at constant currency. "While favorable eComm trends [intra-quarter] aided results to an extent, Adyen's primary growth driver in wallet share gains is becoming more durable, as the concentration around sources of growth in that vector is coming down (60% of growth from top 300 merchants vs. 70% 3 years ago)," analysts added. Within this context, BMO kept its organic full-year 2026 and 2027 forecasts "largely unchanged." The research firm marginally lifted its net revenue and core EPS forecasts for the two years, while lowering its adjusted EBITDA projections.