Susquehanna upgraded Evertec (EVTC) to Neutral from Negative with a price target of $30, up from $28. The company has been proactive managing other costs to offset dilution from Popular transaction, the analyst tells investors in a research note. The firm says management “sounded steadfast in its goal” of driving more efficiency in the business to offset incoming profitability headwinds. Susquehanna cites Evertec’s ability to “weather the pressures” for the upgrade to Neutral.
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