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Fly News Breaks for September 28, 2017
EVTC
Sep 28, 2017 | 07:01 EDT
As previously reported, Stifel analyst John Davis upgraded EVERTEC to Buy from Hold, as he sees the stock as "too cheap to ignore" following its 20% pullback after Hurricane Maria, which he views as overdone. He notes the significant near-term negative impact, but sees Maria as a one-time event, thinks the company's longer-term earnings power is largely intact and foresees an eventual spending tailwind as recovery begins. Davis set an $18 price target on EVERTEC shares.
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