UPDATE: Sterne Agee Upgrades Euronet Worldwide to Buy on Sentiment

Sterne Agee raised its rating on Euronet Worldwide EEFT from Neutral to Buy and established a $23 price target per share. Sterne Agee noted, "After sitting with a Neutral rating on the shares over the past year, we are upgrading EEFT to Buy as we believe the business, perception around the company, and the stock price are all at positive inflection points. Our concerns around FX and Europe have eased, growth has been and should remain strong in the EFT and Money Transfer segments, the balance sheet is strong, the valuation is low against comparables, and we expect 2013 to be the first double-digit EPS growth year in many years." Euronet Worldwide closed at $18.57 on Friday.