Compass Point Starts FleetCor Technologies (FLT) at Neutral
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Price: $303.26 --0%
Rating Summary:
20 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Compass Point initiates coverage on FleetCor Technologies (NYSE: FLT) with a Neutral. PT $40.00.
The firm notes FleetCor operates a relatively more exclusive network compared to Wright Express (NYSE: WXS). Chevron (NYSE: CVX) accounts for approximately 11% of total revenues. Approximately 20% of total revenue is linked directly to the price of retail fuel and another 20% of total revenue is linked to the spread between retail and wholesale fuel prices.
Spreads typically contract (expand) with rising (falling) fuel prices, the firm notes. "Given this spread-based revenue model, we expect relative revenue growth outperformance compared to Wright Express in a stable or decreasing fuel price environment."
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 $36.20 yesterday.
The firm notes FleetCor operates a relatively more exclusive network compared to Wright Express (NYSE: WXS). Chevron (NYSE: CVX) accounts for approximately 11% of total revenues. Approximately 20% of total revenue is linked directly to the price of retail fuel and another 20% of total revenue is linked to the spread between retail and wholesale fuel prices.
Spreads typically contract (expand) with rising (falling) fuel prices, the firm notes. "Given this spread-based revenue model, we expect relative revenue growth outperformance compared to Wright Express in a stable or decreasing fuel price environment."
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 $36.20 yesterday.
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