Flywire assumed with an Equal Weight at Morgan Stanley

Morgan Stanley assumed coverage of Flywire (FLYW) with an Equal Weight rating and $15 price target The company is providing an outlook for 18% year-over-year revenue less ancillary services growth at the midpoint, but the firm firm would note that the company is still assuming U.S. first-year visas are down 30% year-over-year, Canada visas are down 10%, UK visas are flat, and Australia visas are flat and argues that there could be incremental upside to the extent that these assumptions prove to be conservative.