EEFT - Euronet Worldwide stock gains after UBS initiates with Buy on travel recovery

Euronet Worldwide (NASDAQ:EEFT) shares are rising 3% on light volume Monday morning after UBS analyst Rayna Kumar initiated the payments firm with a Buy rating. The company "remains poised to benefit from improved cross-border travel recovery as consumers become more comfortable with travel, and COVID-19 mobility restrictions continue to ease in key Euronet markets," Kumar wrote in a note to clients. Its competitive Money Transfer pricing, expansion of global agent locations and increased total available market opportunity created from its cross-border payments platform should drive share gains and ongoing low-double digit transaction growth, the analyst highlighted. Overall, Kumar is forecasting Euronet (EEFT) to generate 32% EPS compounded annual growth rate over the next five years. Meanwhile, a group of eight analysts estimate Euronet's 2022 EPS at $7.01 per share, a Y/Y boost of nearly 90%. The Buy rating diverges from the Quant Rating's Hold, but agrees with Wall Street Analysts' Strong Buy (7

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Euronet Worldwide stock gains after UBS initiates with Buy on travel recovery