Wachovia Initiates Coverage on Euronet Worldwide (EEFT) with an Outperform
EEFT Hot Sheet
Rating Summary:3 Buy, 1 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Wachovia initiates coverage on Euronet Worldwide, Inc. (Nasdaq: EEFT) with an Outperform. Valuation Range of $20 to $22.
Wachovia analyst says, "We believe EEFT has one of the most attractive secular growth profiles in our universe, particularly among our small and mid-cap universe. With its primary market place centered in Eastern Europe, India and China, coupled with investments in emerging products such as pre-paid, we believe EEFT should have multiple growth tailwinds at its back for the foreseeable future driving mid-teens EPS growth over the next several years...EEFT is seeing market share gains in its sizable pre-paid franchise which will likely continue in our opinion through the balance of 2009 providing support for earnings power in the difficult economic and F/X comparison environment. In addition, we look for EFT (ATM) margins to improve with growth in the ATM network and a ramp-up in the OMV (European gas group) cross-border merchant processing contract."
Euronet Worldwide, Inc. (Euronet) is an electronic payments provider.
To see more analyst ratings on EEFT Click Here.
Wachovia analyst says, "We believe EEFT has one of the most attractive secular growth profiles in our universe, particularly among our small and mid-cap universe. With its primary market place centered in Eastern Europe, India and China, coupled with investments in emerging products such as pre-paid, we believe EEFT should have multiple growth tailwinds at its back for the foreseeable future driving mid-teens EPS growth over the next several years...EEFT is seeing market share gains in its sizable pre-paid franchise which will likely continue in our opinion through the balance of 2009 providing support for earnings power in the difficult economic and F/X comparison environment. In addition, we look for EFT (ATM) margins to improve with growth in the ATM network and a ramp-up in the OMV (European gas group) cross-border merchant processing contract."
Euronet Worldwide, Inc. (Euronet) is an electronic payments provider.
To see more analyst ratings on EEFT Click Here.
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