Flywire upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Flywire to Overweight from Equal Weight with a $27 price target. The analyst is optimistic that the company’s drivers of strong growth from existing customers plus new customer contribution will keep its revenue growth in the high-20’s to low-30’s. When combined with margin expansion, Flywire’s EBITDA growth should push to the 60%-80% range in each of the next two years, the analyst tells investors in a research note. The firm thinks concerns about the sustainability of revenue growth creates one of the most compelling risk/reward opportunities across its SMID-cap fintech coverage.