On Wednesday, Euronet Worldwide (NASDAQ:EEFT) received a positive outlook from Monness, Crespi, Hardt as the firm initiated coverage with a Buy rating and a price target set at $140. The coverage highlights Euronet's Ria money transfer service, emphasizing its extensive distribution network, which includes approximately 580,000 agent locations, a user-friendly website, and the Ria mobile application.
The analysis of the company's performance indicates that the United States is likely the primary source of transaction originations. However, a significant double-digit percentage is also attributed to European operations. Euronet's Ria service is noted for its expansive presence in Latin America and its growing networks across Europe, South Africa, and the Asia-Pacific region.
The firm's analyst points out Euronet's ability to access a vast customer base, with connections to over 2 billion digital wallets and more than 4 billion bank accounts worldwide. This extensive reach is a key factor in the positive assessment of the company's market position and growth potential.
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