Compass Point Reiterates a 'Neutral' on FleetCor Technologies (FLT); Raising Estimates As Acquisitions Fuel Growth

May 10, 2012 2:55 PM EDT
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Price: $149.81 -0.29%

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Compass Point reiterates a 'Neutral' on FleetCor Technologies (NYSE: FLT) price target of $42.00.

Analyst, Douglas Greiner, said, "First quarter results of 32% revenue growth and 29% earnings growth were driven by the acquisitions in Mexico and the UK in the second half of last year. Acquisitions are set to continue driving growth going forward. Specifically, a week ago FleetCor announced an agreement to acquire CTF Technologies - the leading fuel payment platform provider in Brazil. Also, there remains a pipeline of new acquisition opportunities mainly outside of North America...Our revised EPS estimates for this year and next year are $2.60 and $2.92 from $2.56 and $2.89, respectively."

For an analyst ratings summary and ratings history on FleetCor Technologies click here. For more ratings news on FleetCor Technologies click here.

Shares of FleetCor Technologies closed at $40.87 yesterday.

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