RBC Capital Reiterates Sector Perform Rating on Corpay (CPAY)

RBC Capital analyst Daniel Perlin reiterated a Sector Perform rating and $310.00 price target on Corpay (NYSE: CPAY).

The analyst comments "After announcing an agreement to acquire GPS Capital Markets, CPAY hosted a conference call to provide additional information on the GPS acquisition, but also the Paymerang acquisition, which is scheduled to close shortly. Based on current information, and management commentary, we believe that the two acquisitions could be up to $0.30 accretive to our current FY25 cash EPS estimate of $22.15. In addition to announcing the acquisition, CPAY noted that it expects 2Q24 results to be around the midpoint of its previously announced guidance for revenue of $960M–$980M and adjusted EPS of $4.45–$4.55."

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

Shares of Corpay closed at $262.45 yesterday.

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