Payment stocks that offer "relative recession resistance" or special situations may outperform the broader market in 2019, writes RBC analyst Daniel Perlin in a note.
Payments, processing, IT services stock outperformance during 2018, as EPS growth more than offset multiple contraction, may continue in 2019, Perlin writes.
Other picks: Visa (NYSE:V), which offers best "line of sight" on Europe growth plan and Visa Direct, B2B to drive volume; sees PayPal (NASDAQ:PYPL) as an under-monetized asset, Total Systems (NYSE:TSS).
Visa +1.0%, PayPal +1.1%, Worldpay +0.1% premarket.
Source: Bloomberg First Word.
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