Euronet price target lowered to $90 from $120 at Truist

Truist lowered the firm’s price target on Euronet to $90 from $120 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 earnings in FinTech. Many of the firm’s covered names are slumping, and while broadly constructive, Q3 results may not be catalysts for some of its “favorite laggard ideas”, the analyst tells investors in a research note. Truist also believes that the challenges, including competition, commoditization, price pressure, and investments needed to move up-market and into more complex SMBs will not quickly abate. The firm adds that it is difficult to identify a catalyst for Euronet after the company has suffered two disappointing summer travel seasons, despite a robust cross-border recovery.