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Intelligent Systems wins bullish rating from BTIG on Apple Card role

Jan. 27, 2020 10:53 AM ETCoreCard Corporation (CCRD) StockAAPL, GS, CCRDBy: Liz Kiesche, SA News Editor5 Comments
  • BTIG analyst Mark Palmer initiates coverage of small-cap Intelligent Systems (INS -0.3%) with Buy recommendation for its role in helping Goldman Sachs serve as processor for the launch of the Apple Card.
  • "We believe INS is an overlooked small-cap stock with compelling growth prospects," Palmer writes in a note.
  • Sees INS’s growth to be slower in 2020, though still very strong, as it executes on the Apple Card project. "We view its long-term growth outlook as attractive and supportive of a premium multiple," he said.
  • Also sees Apple Card's success making it more likely that Goldman will use INS's CoreCard software for processing projects with other firms in the future.
  • Quant rating is Bullish.

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