Market Overview

UPDATE: Credit Suisse Downgrades MoneyGram International to Neutral on Pricing Pressure

Related MGI
MoneyGram Appears Stressed with High Debt - Analyst Blog
Market Wrap For April 17: Mixed Earnings Drag The Dow Lower While S&P 500 & Nasdaq End Positive

Credit Suisse reduced its rating on MoneyGram International (NYSE: MGI) from Outperform to Neutral and lowered its price target from $25 to $16.

Credit Suisse noted, "While MGI has been posting revenue and transaction growth ahead of its peers, we are concerned increased competition will result in pricing pressure, slowing revenue growth and margin expansion. Furthermore, we are concerned that increased regulatory scrutiny across the industry could negatively affect MGI. We prefer to move to the sidelines. Our $16 TP is predicated on 6.5x our 2014 adj. EBITDA (in-line with WU's trading multiple)."

MoneyGram International closed at $12.43 on Wednesday.

Posted-In: Credit SuisseAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (MGI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free