Usio initiated with a Buy at Litchfield Hills

Litchfield Hills analyst Barry Sine initiated coverage of Usio with a Buy rating and $6 price target. The analyst says Usio is in the “fast-growing” electronic payments industry with the trend toward a cashless society likely to continue. Usio is more innovative than the industry and is taking share with a 24% annual revenue over the last five years, the analyst tells investors in a research note. The firm looks for the stock to move “well above” its $1.50 to $2.20 range for the last year.