Morgan Stanley has cooled on the tech sector, but analysts there still see big potential for payments companies.
The team at Morgan Stanley, led by James Faucette, upgraded the payments and processing industry to attractive on Thursday, citing a number of key trends that could underpin growth in the quarters to come. Among them: “resilient” consumer spending, share gains for electronic payment methods, network effects and pricing power.
Morgan Stanley’s sector ratings are attractive, in line and cautious.
“These are some of the best businesses there are,” Faucette wrote of payments companies….