FISV - Evertec: Accelerating Growth And Acquisition Potential To Send Shares Higher

• Evertec's growth has been accelerating, and last quarter posted its second highest YoY growth since going public in 2013.
• Further expansion of LATAM Payment Processing business should continue to accelerate the company's growth and lead to a higher multiple.
• Significant deleveraging over the past three years gives Evertec increased opportunities for growth, capital return, and increases the chances of acquisition.
• Valuation remains attractive.
• With recent consolidation in the payments industry and rumors the company hired Goldman to sell itself, we see Evertec as a likely acquisition target.

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