RBC Capital lowered the firm’s price target on Flywire to $34 from $41 and keeps an Outperform rating on the shares. The company’s Q1 earnings miss and guidance change illustrate the combination of FX headwinds and rolling ramp in its Canadian education business, the analyst tells investors in a research note. RBC adds however that despite these challenges, results exceed expectation for the quarter and were coupled with record new client wins.
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