EEFT - Euronet Has Doubled Off Its Lows But Isn't Fully Valued Yet
- Euronet's reliance on cross-border travel was made clear in 2020, but recovering travel should drive better results in 2021 and 2022.
- Ongoing bank branch closures in Europe create new ATM opportunities for Euronet, while opportunities like DCC support volume/location growth in Asia.
- Money transfer remains a strong growth opportunity, as Euronet continues to gain share through price, agent location growth, and investments in digital capabilities.
- High-single-digit revenue growth and improving FCF margins can drive double-digit annualized returns from here.
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Euronet Has Doubled Off Its Lows, But Isn't Fully Valued Yet