Evertec price target lowered to $29 from $34 at Morgan Stanley

Morgan Stanley analyst James Faucette lowered the firm’s price target on Evertec (EVTC) to $29 from $34 and keeps an Equal Weight rating on the shares. The firm is “encouraged” by the strength of the LatAm segment as Evertec diversifies into the region through its Sinqia and Tecnobank acquisitions in Brazil and smaller tuck-in M&A, the analyst tells investors in a note following Q3 earnings.