Shares of Wise rose 1.5% after J.P. Morgan began coverage of the company's U.S.-listed stock, assigning an "overweight" rating and setting a price target of $17.50 for the OTC-traded ticker WPLCF. The move reflected the brokerage's view that the payments and money transfer platform is positioned for stronger-than-anticipated near-term revenue performance.
In addition to initiating coverage on the U.S. listing, J.P. Morgan adjusted its view on Wise's London-listed shares. The bank raised its price target on LON:WISE to 1,320 pence from 1,260 pence and retained an "overweight" rating for that listing as well.
J.P. Morgan's outlook for Wise centers on expectations that net revenue will come in above the company's mid-term guidance range during the first and second quarters. The bank cited several operational and commercial drivers behind that view: robust growth in transaction volumes, increasing user activity on the platform, and a rise in customer balances.
The report also noted that Wise is expected to add new platform customers through the year while continuing to expand existing partnerships. Those dynamics were described by the brokerage as contributors to near-term top-line upside relative to the established guidance range.
Wise moved its primary listing to the United States last year while keeping a secondary listing in London, the market where it originally listed in 2021. That dual-listing structure means analyst coverage and price targets can be reported for both the U.S. and London tickers, as reflected in J.P. Morgan's separate price targets for WPLCF and LON:WISE.
Below is a concise recap of the analyst action and the factors cited by the brokerage.
- Analyst action: J.P. Morgan initiated coverage of the U.S.-listed WPLCF with an overweight rating and $17.50 price target; it also raised the London price target to 1,320 pence and kept an overweight rating on LON:WISE.
- Key drivers cited: Transaction volume momentum, higher user engagement, and growing customer balances, plus continued platform customer additions and partnership expansion.
- Listing structure: Wise has a U.S. primary listing and retains a secondary London listing, where it first listed in 2021.
This account reflects the positions and expectations stated by J.P. Morgan and the market response to that coverage. It does not add further forecasts or interpretive commentary beyond the brokerage's stated rationale and the observed share price move.