Market Overview

UPDATE: J.P. Morgan Reiterates Neutral Rating, $17 PT on Moneygram International

Related MGI
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, J.P. Morgan & Co. reiterated its Neutral rating and $17.00 price target on Moneygram International (NYSE: MGI).

J.P. Morgan noted, “We rate MGI shares Neutral as we believe upside from higher growth will be balanced by overhangs from WMT contract and high insider ownership: (1) Expansion of agent network will create a network effect in the core remittance service business, and will also add defensiveness to the company's business model; (2) Above average growth in a fragmented market along with solid margin expansion potential; (3) WMT concentration and high insider ownership could limit stock upside.”

Moneygram International closed on Friday at $12.34.

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: J.P. Morgan & Co.Analyst Color Reiteration Analyst Ratings

 

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