Monness Crespi lowered the firm’s price target on Remitly Global (RELY) to $30 from $35 and keeps a Buy rating on the shares. Remitly is better capitalized than peers in terms of structure and can withstand pain and continue growth even if global remit volumes decline, the analyst tells investors.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RELY:
- Remitly Global price target lowered to $26 from $33 at Goldman Sachs
- Monness Crespi remains bullish on Remitly Global, says buy ‘misplaced’ fear
- Rufus Hone Reaffirms Buy Rating on Remitly Global Amid Growth Prospects and Market Position
- Remitly Global down 4% at $19.22 after short call by Spruce Point Capital
- Spruce Point issues strong sell opinion on Remitly Global, faces 40%-55% risk