Compass Point Assumes MoneyGram International (MGI) at Neutral

Compass Point assumes coverage on MoneyGram International (NASDAQ: MGI) with a Neutral rating and a price target of $9.00.

Analyst Michael Tarkan comments "Although MGI shares are off meaningfully year-to-date, we expect the company will face increasing competitive pressure both domestically and internationally, and heightened compliance expenses for the foreseeable future. While much of the company's recent pricing actions are likely reflected in current valuation, we believe earnings estimates remain too high. Nonetheless, shares are trading at a significant discount to WU and the overall payment processor peer group. Our Neutral rating reflects these operational concerns, offset by a reasonable valuation."

For an analyst ratings summary and ratings history on MoneyGram International click here. For more ratings news on MoneyGram International click here.

Shares of MoneyGram International closed at $8.70 yesterday.

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