Morgan Stanley lowered the firm’s price target on Flywire (FLYW) to $15 from $16 and keeps an Equal Weight rating on the shares. The firm expects near-term estimate outperformance driven by 3.3% quarter-over-quarter web traffic growth in Q4 that surpasses two-year average seasonality, but slightly reduced its FY26 and FY27 incremental margin assumptions ahead of Flywire’s scheduled Q4 report due after market close on February 24.
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