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UPDATE: Compass Point Initiates Coverage On MoneyGram International On Everyday Low Prices

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In a report published Friday, Compass Point analyst Michael Tarkan initiated coverage on MoneyGram International (NASDAQ: MGI) with a Neutral rating and $9.00 price target.

In the report, Compass Point noted, “We are assuming coverage of MoneyGram International (MGI) with a Neutral rating and $9 price target. MoneyGram is the second largest global money transfer and payment services provider behind Western Union (WU-Neutral-$20 PT), with agents in 347,000 locations in more than 200 countries. Although MGI shares are off meaningfully year-to-date, we expect the company will face increasing competitive pressure both domestically and internationally, and heightened compliance expenses for the foreseeable future. While much of the company's recent pricing actions are likely reflected in current valuation, we believe earnings estimates remain too high. Nonetheless, shares are trading at a significant discount to WU and the overall payment processor peer group. Our Neutral rating reflects these operational concerns, offset by a reasonable valuation.”

MoneyGram International closed on Thursday at $8.70.

Latest Ratings for MGI

DateFirmActionFromTo
Jan 2021Northland Capital MarketsUpgradesMarket PerformOutperform
Aug 2020Evercore ISI GroupUpgradesUnderperformIn-Line
Sep 2019BarclaysMaintainsUnderweight

View More Analyst Ratings for MGI
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Posted-In: Compass Point Michael TarkanAnalyst Color Initiation Analyst Ratings

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