UPDATE: Morgan Stanley Reiterates On Evertec Inc Following Conference Call

In a report published Tuesday, Morgan Stanley analyst Smittipon Srethapramote reiterated an Equal-Weight rating on Evertec Inc EVTC, but removed the $24.00 price target. In the report, Morgan Stanley noted, “We believe that EVTC has the assets that could make it attractive to local banks for merchant acquiring partnerships, but long sales cycles and uncertainty around catalyst events for banks may imply that expansion plans into Costa Rica, Panama, and Colombia may be protracted.” Evertec Inc closed on Monday at $22.66.