This little-known fintech stock could emerge as an industry leader and gain nearly 20%, Loop Capital says

Triumph Financial is a "new fintech leader in payments" that the market is underappreciating, according to Loop Capital. The firm initiated coverage of Triumph with a buy rating and a price target of $76 per share. That target implies upside of 17.5% from Tuesday's close.

TriumphPay connects brokers, factoring companies, and carriers in the trucking industry to facilitate payments. "By offering supply chain finance to brokers, it allows them to pay truckers faster. TriumphPay provides tools to increase automation, reduce fraud, and create back-office efficiency in a notoriously slow and labor-intensive process," Goetsch said. To be sure, Goetsch believes the company will not become profitable until 2024, as freight demand slows in 2023.

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