Intelligent Systems wins bullish rating from BTIG on Apple Card role

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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