BMO Capital raised the firm’s price target on Intermex (IMXI) to $30 from $27 and keeps an Outperform rating on the shares after its Q3 earnings beat. The retail remittance market where Intermex is overindexed remains challenged, in part due to macro and an accelerated shift to digital, but against this backdrop, the company delivered a decent 3Q with outperformance in retail and strong growth in digital, the analyst tells investors in a research note. Investors do not appreciate Intermex’s track record of market-share gains and compounded EPS growth, the firm added.
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