Wex, Inc. (WEX): Notes From The Road - Jefferies
- Wall Street dips as Verizon drags; AmEx curbs losses
- AT&T (T) Said to Discuss Idea of Takeover in Time Warner (TWX) Meetings
- UPDATE: Qualcomm (QCOM), NXP Semiconductors (NXPI) Deal Could be Announced Next Week - Bloomberg
- Tesla (TSLA) Announces Self-Driving Hardware for All Vehicles in Production; Includes Model 3
- Walgreens Boots Alliance (WBA) Tops Q4 EPS by 8c; Guides FY17 EPS
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies analyst, Ramsey El-Assal, Buy WEX Inc. (NYSE: WEX) after taking the company's management on a non-deal roadshow. Pricing remains a compelling ongoing opportunity for the company, and a key focus area for investors. In addition, the 2017 setup looks solid with tailwinds that could include: 1) benefits from the recently announced MasterCard deal renewal, 2) EFS deal accretion, 3) potential broader C-Trip roll out, and 4) modest incremental accretion from ESSO.
WEX provided color on the ongoing pricing opportunity, indicating that successful preliminary Q2 testing of the higher 6.99% late fee level (vs. 2.99% prior) likely supports a more comprehensive fleet-wide (SMB) rollout. Historical precedent suggests the higher fee will first be rolled out to direct customers, followed by incremental testing, before being rolled out to indirect customers.
No change to the price target of $114.
Shares of WEX Inc. closed at $105.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Genuine Parts (GPC) to $95 Following 3Q Report
- Guggenheim Cuts Price Target on Tractor Supply (TSCO) Following 3Q Report
- eBay (EBAY) Turnaround on Track, Buy the Dip - Susquehanna
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Management Comments
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!