Morgan Stanley Maintains Underweight Rating for Evertec: Here's What You Need To Know

Morgan Stanley has decided to maintain its Underweight rating of Evertec EVTC and raise its price target from $29.00 to $31.00.

Shares of Evertec are trading down 2.04% over the last 24 hours, at $40.16 per share.

A move to $31.00 would account for a 22.82% decline from the current share price.

About Evertec

Evertec Inc is a transaction processing business in Latin America and the Caribbean. Its business segments are Merchant Acquiring, Payment Services - Puerto Rico & Caribbean, Payment Services - Latin America, and Business Solutions. The company serves a diversified customer base of financial institutions, merchants, corporations and government agencies with mission-critical technology solutions that enable them to issue, process and accept transactions securely. The company derives revenue based on transaction or discount fees or fees based on the number of accounts on file.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.