** Jefferies downgrades payment solutions provider SmartPay SPY.NZ on co's recent share price appreciation driven by two bids
** Brokerage makes no changes to earnings, stating current business holds fair value
** Jefferies says transitioning NZ business to an acquiring revenue model like AU could enhance valuations and SPY is set to widen this approach to more existing and new merchants soon
** Downgrades to 'hold' from 'buy'; keeps target price of ASX-listed shares SMP.AX at A$0.80
** SPY up 34.7% YTD
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.