CURN - Currency Exchange International: Wholesale Banknotes Not Materializing Downgrading To Hold
2024-05-07 03:06:57 ET
Summary
- Currency Exchange International (CXI) shares are downgraded to HOLD after Q1 results show slow growth and lower guidance.
- Q1 revenue growth of 7% was mostly driven by the post-pandemic resumption of international travel.
- Management's pursuit of a trust agreement with a larger US bank for wholesale banknote transfers is close to completion, but expectations for explosive growth have diminished.
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Currency Exchange International: Wholesale Banknotes Not Materializing, Downgrading To Hold