BTIG analyst Andrew Harte initiated coverage of Flywire with a Buy rating and $37 price target. The company built scale by solving the complicated nature of international tuition payments in higher education, and it is now seeking to alleviate similar complexities in additional verticals including healthcare and travel, the analyst tells investors in a research note. The firm believes Flywire’s continued investment in its next-generation payments platform and proprietary payment network will further enhance the company’s “Flywire Advantage” as it seeks to win share of the $12 trillion payments volume total addressable market it is addressing.
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