Intermex price target raised to $27 from $23 at Northland

Northland analyst Mike Grondahl raised the firm’s price target on Intermex (IMXI) to $27 from $23 and keeps an Outperform rating on the shares. Q3 results were softer due to macro headwinds, but Intermex plans to aggressively step up marketing spend in digital business to reinvigorate growth and is pursuing strategic alternatives too, the analyst tells investors.