Raymond James upgrades Flywire to "strong buy" on growth potential

Flywire

01/02/2022 11:06

** Raymond James upgrades financial technology firm  FLYW.O 
to "strong buy" from "outperform", saying it expects a sizable
upside to numbers and sustained organic growth of more than 30%
over the next several years     
    ** "FLYW possesses one of the most compelling moats in
fintech through its proprietary network that enables
high-stake/high-value cross border payments" - Raymond James
    ** Brokerage sees co as one of the most coveted M&A targets,
cuts PT to $39 from $48, implying an upside of ~38.3% to the
stock's last close 
    ** Eight of nine brokerages rate the stock "buy" or higher,
one "hold"; their median PT is $48 - Refinitiv data 
    ** Brokerage says significant recent pull back in stock is
the result of inflation fears and higher rates not the company's
fundamentals 
    ** Shares have gained nearly 17% from their IPO price of $24
in May
    

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))