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EEFT - Euronet Thriving With All Units Contributing To Growth
Euronet Worldwide Inc.
I thought Euronet (EEFT) was undervalued back in August, as fears of what the EU might do regarding dynamic currency conversion (a meaningful source of high-margin revenue for Euronet) weighed on the shares. Since then, not only did the EU opt for the best-case scenario for Euronet, but Visa (V) lifted its restrictions on DCC via ATMs globally, and businesses like money transfer and epay continue to grow nicely.
I’d previously valued Euronet on a risk-weighted basis that accounted for the risk of more severe DCC restrictions, but not only