WU - Strategic Analysis By Analyst: Diverse Outcomes For Fintech Stocks In Current Market Conditions | Benzinga
BMO Capital Markets analyst Rufus Hone initiated coverage on several fintech stocks.
At Market Perform rating, the analyst commenced coverage at Repay Holdings Corp (NASDAQ: RPAY) with a price target of $9, Remitly Global Inc (NASDAQ: RELY) at a $25 price target, The Western Union Co (NYSE: WU) at $12, AvidXchange Holdings Inc (NASDAQ: AVDX) at $11 and i3 Verticals Inc (NASDAQ: IIIV) at $24 price target.
WU: The analyst says the investors should wait for more evidence of durable revenue growth, mainly once easier prior-year comps are lapped (i.e., by H2 FY24). While the C2C segment is seeing benefits from "Evolve 2025" initiatives, the analyst says it is too early to get comfortable on a durable EBIT/EPS growth trajectory.
The ...