Compass Point Reiterates a 'Neutral' on FleetCor Technologies (FLT); Adjusting Estimates After Acquisition Update

July 12, 2012 8:47 AM EDT
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Price: $150.69 --0%

Rating Summary:
    15 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Compass Point reiterates a 'Neutral' on FleetCor Technologies (NYSE: FLT) price target of $37.00.

Analyst, Douglas Greiner, said, "FleetCor has completed +40 acquisitions in the past decade under the global acquisition strategy of buying companies and improving operating performance. On the call, FleetCor reiterated a busy pipeline of potential new acquisition opportunities. In terms of fire power for future deals, existing debt capacity is $300M, cash is $287M, and Debt/EBITDAis well below the covenant level of 3.25x. Separately, we anticipate headwinds due to unfavorable fuel prices and foreign exchange rates. Our revised EPS estimates are $2.55 this year ($2.60 previously) and $2.85 next year ($2.92 previously)."

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 $35.68 yesterday.

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