Wells Fargo Adds FleetCor Technologies (FLT) to Priority Stock List; Removes Western Union (WU)

Wells Fargo maintains an 'Outperform' on FleetCor Technologies (NYSE: FLT) and price target range of $38-$40.

Wells analyst says, "We are adding FLT to the Priority Stock List (removes Western Union (NYSE: WU) and view it as our best idea in the mid/large cap section of our transaction processing/fintech universe. We believe that the combination of accretion from the recently announced UK acquisition, organic growth and one of the more compelling valuations in our universe (particularly when viewed relative to profitability and balance sheet strength) make this a very attractive name as we head into CY2012."

(Wells Fargo upgraded FLT on Dec. 16, 2011 from Market Perform to Outperform)

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 $29.68 yesterday.

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