Wise PLC (LSE:WISE) has doubled down on its Wise Platform recently with efficency-driven price cuts, which make it more attractive for enterprises to outsouce their FX conversion says US bank Jefferies.
The global payment infrastructure is designed for banks, financial institutions, and enterprises, enabling fast, secure, and cost-effective international payments directly within their own systems.
With a total addressable market (TAM) of £27tn, Wise addresses with Wise Platform the whole FX conversion market, supported by 8 (including two pending) direct connections, more than 65 licences, and 90 banking partners.
Recent client wins are Morgan Stanley (NYSE:MS) and Standard Chartered, joining existing clients Monzo and N26.
As a result, Jefferies has upgraded its estimates "boosting further above consensus EBITDA in FY26E/FY27E, where we sit 23% and 20%, respectively, higher".
Buy with a target price of 1,353p.