da sich bisher keiner des Themas angenommen hat, hier ein Hinweis ,nachdem sie auf meiner Watchlist schon seit Tagen steigt
November 20, 2013,
JP Morgan hat das Kursziel auf $50 angehoben
Electronic payment services provider Qiwi (QIWI) is a play on the development of e-commerce in Russia. This stock has gained 163% over its IPO price in May.
J.P. Morgan says there is more upside, having just raised its target price from $40 to $50. Qiwi is trading at $44.7 at the open today.
For the third quarter, the number of active wallets grew 53% year-on-year and the adjusted net yield increased to 0.98% from 0.83% a year ago. As a result, the broker now expects the e-wallet division to account for 2/3 of the company"s total revenue by 2016, up from 30% in 2012 and 7% in 2009. Here are analysts Alexei Gogolev, Tien-tsin Huang, and Reginald L. Smith:
Improving net revenue mix will likely be driven by rising number of wallets on Qiwi"s network as well as the increase of the average activity/payment volume on the wallet. We estimate that the number of wallets on the Qiwi network will more than double reaching 23 mn on our estimates already by 2016E from 11.4 mn at the end of 2012.
The management raised its fiscal year 2013 revenue growth guidance to 42-45% range, versus 27-30% before – the second time this year. But J.P. Morgan thinks this guidance may still be too conservative because of the e-wallet growth. The broker increased their EPS estimates for 2013-2015 by 11-19%.
The new target price implies 27 times the broker"s estimated 2014 earnings.
blogs.barrons.com/emergingmarketsdaily/...gan-raises-pt-to-50/
November 20, 2013,
JP Morgan hat das Kursziel auf $50 angehoben
Electronic payment services provider Qiwi (QIWI) is a play on the development of e-commerce in Russia. This stock has gained 163% over its IPO price in May.
J.P. Morgan says there is more upside, having just raised its target price from $40 to $50. Qiwi is trading at $44.7 at the open today.
For the third quarter, the number of active wallets grew 53% year-on-year and the adjusted net yield increased to 0.98% from 0.83% a year ago. As a result, the broker now expects the e-wallet division to account for 2/3 of the company"s total revenue by 2016, up from 30% in 2012 and 7% in 2009. Here are analysts Alexei Gogolev, Tien-tsin Huang, and Reginald L. Smith:
Improving net revenue mix will likely be driven by rising number of wallets on Qiwi"s network as well as the increase of the average activity/payment volume on the wallet. We estimate that the number of wallets on the Qiwi network will more than double reaching 23 mn on our estimates already by 2016E from 11.4 mn at the end of 2012.
The management raised its fiscal year 2013 revenue growth guidance to 42-45% range, versus 27-30% before – the second time this year. But J.P. Morgan thinks this guidance may still be too conservative because of the e-wallet growth. The broker increased their EPS estimates for 2013-2015 by 11-19%.
The new target price implies 27 times the broker"s estimated 2014 earnings.
blogs.barrons.com/emergingmarketsdaily/...gan-raises-pt-to-50/