Truist analyst Andrew Jeffrey raised the firm’s price target on Euronet to $135 from $100 and keeps a Buy rating on the shares as part of a broader research note on FinTech names. The analyst believes that investors should focus on relative 2022 FinTech outperformers but also contends that "a catalyst is needed" for relative 2023 outperformance and sees M&A as the most likely valuation driver. Jeffrey adds that Euronet is poised for a rebound however as investors appreciate the stock’s steady free cash flow and below-average cyclicality.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on EEFT:
- DA Davidson expects material FX headwinds for Euronet to diminish
- Euronet downgraded to Underperform from Peer Perform at Wolfe Research
- Euronet launches refreshed brand strategy, new logo, mission statement
- Euronet Launches Refreshed Brand Strategy, Including New Corporate Logo and Refined Mission Statement
- Euronet CEO Brown to meet virtually with Northland