He also said that Flywire trading at a discount of about 25% is "unwarranted given the company's strong competitive position and organic revenue growth trajectory."
"These risks along with a tough demand setting is likely to remove any support for the stock price."
— Alex Harring 5:29 a.m.: BTIG moves to sidelines on McDonald's after earnings BTIG has a different taste in its mouth about McDonald's following earnings.
The bank upgraded the delivery giant to buy from neutral and hiked its price target to $175 from $160.
"We expect management to deliver a strong cost reduction program to support margin expansion and attractive EPS growth despite facing a backdrop of muted revenue growth," analyst Thomas Wadewitz wrote.
Persons:
Flywire, Nate Svensson, That's, Svensson, — Alex Harring, Gross, Manav Gupta, Gupta, Jairam Nathan, Nathan, Tesla, Li, Edison Yu, Yu, Piper Sandler, Arvind Ramnani, Chegg, Ramnani, Alex Harring, Tyler Radke, Palantir, Radke, BTIG, Peter Saleh, Saleh, McDonald's, Thomas Wadewitz, Wadewitz, Fred Imbert
Organizations:
CNBC, Parcel Service, Deutsche Bank, UBS, Leadership, Li Auto, KraneShares CSI China Internet, Citi, Wall, Revenue, UPS
Locations:
Tuesday's premarket, Monday's, U.S, Israel