Euronet price target lowered to $118 from $134 at DA Davidson

DA Davidson lowered the firm’s price target on Euronet to $118 from $134 and keeps a Buy rating on the shares ahead of its Q3 results next week. The company should meet or modestly exceed the firm’s forecasts and provide guidance commentary that approximates the Q4 consensus, the analyst tells investors in a research note. With the US dollar strengthening against the relevant foreign currencies over the past few months, the firm also sees a “more moderate” tailwind from FX in the second half of this year relative to tis prior expectations.