Monness Crespi initiated coverage of Euronet with a Buy rating and $140 price target. The analyst says CEO Mike Brown has curated an “all-weather business” that is able to compound sales and earnings since 2004 by putting together a European ATM business, gift card management and mobile top ups, and via remittances. The synergies “in this mini conglomerate are evident from a distribution cross-pollination opportunity,” the analyst tells investors in a research note.
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