Raymond James analyst John Davis resumed coverage on Worldpay with a Strong Buy and a $98 price target. Davis believes investors are too focused on the Q1 print and weaker than expected Q2 guidance and believes management is being overly conservative. The analyst believes the Vantive/Worldpay merger is a "homerun" strategically as the new Worldpay should be able to capitalize on the integrated payments opportunity in the UK and later Europe given the significant competitive advantages over peers, driving market share gains. David believes 2020 Street estimates are simply too low given expectations that cost synergy forecasts will prove conservative combined with e-commerce cross sell in the US and the integration opportunity in the UK and Europe.