In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on International Money Express Inc (IMXI), with a price target of $17. The company’s shares closed yesterday at $13.98.
Grondahl wrote:
“We highlight the operating leverage with bank fees only up 3-4% and salaries up 2%. Note that Africa (first wire on January 10th, 2019 – IMXI targeting 300-500 agents long-term) can be the size of Guatemala and Canada (first wire on July 9th, 2019 – IMXI is targeting 4-5 large cities) can be the size of the Texas market. Market share continued to expand with Mexico now at 18.3% from 7.9% in 2014, 4.2 in% in 2014, and in 2014. Intermex volume growth in Honduras growing at 33.6% vs the market at 10.9%. IMXI is excited about the opportunity on the west coast as we expect further traction here through the rest of 2019 with additions in personnel and management believes California can add 10-15M+ transactions over time.”
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 15.0% and a 56.8% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Health Insurance Innovations.
International Money Express Inc has an analyst consensus of Moderate Buy, with a price target consensus of $17.
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The company has a one-year high of $15.11 and a one-year low of $9.06. Currently, International Money Express Inc has an average volume of 153.9K.
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International Money Express, Inc. engages in the provision of electronic money remittance services. It offers wire transfer, money order and check cashing services. The company was founded in 1994 and is headquartered in Miami, FL.
