William Blair analyst Christopher Kennedy has reiterated their bullish stance on EVTC stock, giving a Buy rating today.
Christopher Kennedy’s rating is based on Evertec’s strong financial performance and strategic initiatives. The company reported better-than-expected results for the December quarter, with revenue, adjusted EBITDA, and EPS all surpassing estimates. This performance is supported by a stable macroeconomic environment in Puerto Rico, which is expected to drive moderate revenue growth.
Additionally, Evertec’s strategic acquisitions, including Sinqia and Nubity, are anticipated to enhance growth and operational efficiency. The management’s focus on cost initiatives and the company’s significant liquidity position further bolster confidence in Evertec’s ability to navigate future challenges, such as the renegotiated contract with Popular. These factors collectively underpin Kennedy’s Buy rating for Evertec’s stock.
Kennedy covers the Technology sector, focusing on stocks such as Evertec, Flywire, and Marqeta. According to TipRanks, Kennedy has an average return of 0.4% and a 42.86% success rate on recommended stocks.
In another report released today, KBW also maintained a Buy rating on the stock with a $42.00 price target.