Evertec price target raised to $43 from $36 at Susquehanna

Susquehanna analyst James Friedman raised the firm’s price target on Evertec to $43 from $36 and keeps a Neutral rating on the shares. The firm said the recently announced Sinqia acquisition, will materially diversify the company’s revenue stream following closing. The greater exposure to higher-growth geographies, along with the complementary nature of Sinqia’s financial institutions software to Evertec’s existing payments rails and solutions, makes this deal particularly shine.