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UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Lowers PO on MoneyGram International

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UPDATE: Compass Point Initiates Coverage On MoneyGram International On Everyday Low Prices
MoneyGram Expands Money Transfer in Australia With Additional Self-Service Kiosks

In a report published Monday, Bank of America Merrill Lynch reiterated its Buy rating on MoneyGram International (NYSE: MGI), but lowered its price objective from $20.00 to $18.00.

BofA Merrill Lynch noted, “Investors can now focus on company fundamentals given a cleaner capital structure. Our Buy rating is based on expectations that the company continues to gain share in the highly fragmented money transfer market, yielding improving revenue and margin trends. We expect double-digit money transfer transaction volume growth over the next several years and expanding margins from operational efficiencies.”

MoneyGram International closed on Friday at $13.93.

Latest Ratings for MGI

DateFirmActionFromTo
Nov 2014Wells FargoUpgradesMarket PerformOutperform
Nov 2014Compass PointInitiates Coverage onNeutral
Nov 2014Standpoint ResearchInitiates Coverage onBuy

View More Analyst Ratings for MGI
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Analyst Ratings

 

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