TSX:NVEI - Post Discussion
Post by
retiredcf on Nov 09, 2023 9:26am
BMO
Still looking for a double. GLTA
BMO’s James Fotheringham cut his target to US$45 from US$60 with an “outperform” rating. The average is US$35.67.
“NVEI reported solid results, raised near-term guidance, and reiterated medium-term targets,” said Mr. Fotheringham. “We raise out-year estimates by 1 per cent (higher gross margins) but we lower our Street-high target price to $45 as we moderate our target multiple. NVEI demonstrated solid organic growth in 3Q23 (we estimate 14 per cent year-over-year FXN ex-crypto), with momentum building into next year from in-sourcing back-end processing, accelerating merchant onboarding, rolling out global B2B, and expanding Paya margins.”
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