Flywire initiated with Neutral on near-term headwinds at Wedbush

Wedbush last night initiated coverage of Flywire with a Neutral rating and $18 price target. The Neutral stance reflects a weaker than expected growth trajectory at Flywire’s Education vertical, the impact of more restrictive student visa programs in Canada, as well as concerns over a more restrictive International student visa program in the U.S. post November’s elections, especially under a Republican president, the analyst tells investors in a research note. In a normalized environment, the firm believes the company is well positioned to post 20% and close to 50% revenue and adjusted EBITDA growth on an annual basis.