BTIG ‘Joins’ Lee Cooperman With Buy On Monitise

Mobile banking is growing rapidly in both developed and emerging markets as smartphones become more affordable and consumers get used to the idea of making payments with their phone, creating a rare opportunity for whatever company can create the best infrastructure and software to deliver this service worldwide. BTIG analyst Mark Palmer thinks that Monitise Plc (LON:MONI) (OTCMKTS:MONIF) might be that company, initiating coverage with a Buy recommendation and a 92p price target (currently 64p).

Unlike many of its competitors that are trying to build payments systems and mobile wallets from the ground up, Monitise Plc (LON:MONI) (OTCMKTS:MONIF) has developed an interface that connects smartphones to banks’ existing payment infrastructure so that incorporating the new feature is relatively painless and the time...