Intermex price target lowered to $28 from $30 at Monness Crespi

Monness Crespi analyst Gus Gala lowered the firm’s price target on Intermex (IMXI) to $28 from $30 and keeps a Buy rating on the shares. End market growth further decelerated in the “all-important” inbound Mexico corridor from 6.0% year-over-year in Q2 to 1.2% year-over-year in Q3, notes the analyst, who cut topline estimates slightly in calendar 2024 and about 3% for calendar year 2025 to accommodate for weakness in the key Mexico corridor and across other corridors as the firm rolls out quarterly estimates in conjunction with a Q3 preview.