Intermex downgraded to Neutral at Monness Crespi on near-term challenges

As previously reported, Monness Crespi analyst Gus Gala downgraded Intermex (IMXI) to Neutral from Buy and removed the firm’s previous price target While stating that “there might be buyers,” the firm says uncertainty around recent policy shifts around immigration into the U.S. from Latin America, where Intermex makes a disproportionate amount of its earnings, is likely to dampen multiple expansion and EPS estimate revisions. In addition, the digital/retail divide in the industry versus Intermex “could take years to narrow,” the analyst added.