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Fly News Breaks for February 22, 2018
EVTC
Feb 22, 2018 | 04:49 EDT
Goldman Sachs analyst James Schneider upgraded Evertec to Neutral and raised his price target for the shares to $17 from $12. The analyst admits he underestimated the rate of recovery in consumer spending in Puerto Rico following hurricanes Maria and Irma. He believes a Neutral rating is appropriate given the faster than expected recovery but admits depopulation in the country could serve as a long-term headwind to Evertec's growth.
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