Morgan Stanley Upgrades Flywire (FLYW) to Overweight, 'Why upgrade now?'

Morgan Stanley analyst Michael Infante upgraded Flywire (NASDAQ: FLYW) from Equalweight to Overweight with a price target of $17.00 (from $15.00).

The analyst comments "Why upgrade now? After our bullish preview leading into 4Q25 results (Flywire Corp: 4Q25 EPS Preview – Attractive Near-Term Setup (24 Feb 2026)), we have built even more conviction that Flywire can grow FXN RLAS at or above the highteens range over the next couple years, and believe the company's assumptions for meaningful visa headwinds in '26 across its key Education markets will likely prove conservative and lead to sustained upward estimate revisions, and a result, multiple expansion. With the stock still trading at only ~6x our '27 adjusted EBITDA estimate (~33% '25-'27 CAGR), ~14x our '27 uFCF ex. SBC estimate (~69% '25-'27 CAGR), and ~18x '27 GAAP EPS (~149% '25-'27 CAGR), we believe the stock remains fundamentally mispriced in the public markets, with our illustrative LBO analysis highlighting the extent of Flywire's valuation dislocation"

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

Shares of Flywire closed at $12.31 yesterday.

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