Flywire price target lowered to $18 from $20 at JPMorgan

JPMorgan analyst Tien-tsin Huang lowered the firm’s price target on Flywire to $18 from $20 and keeps a Neutral rating on the shares post the Q2 report. Flywire’s results and outlook were mixed and the focus will likely be on another negative revenue revision, the analyst tells investors in a research note. The company is performing well in areas it can control, but the volatility in outlook resulting from Canadian policy uncertainty will likely need to stabilize before JPMorgan gets more constructive on the stock, the analyst tells investors in a research note.