Wells Fargo Downgrades FleetCor Technologies (FLT) to Market Perform

Wells Fargo downgraded FleetCor Technologies (NYSE: FLT) from Outperform to Market Perform with a price target of $44.00.

Commenting on the downgrade, analyst Timothy Willi said, "We are downgrading shares of FLT to Market Perform from Outperform as they now trade above our $43-45 valuation range. While we hold in high regard FLT's business model, free cash flow profile and ability to execute accretive acquisitions and acquisitions that move the company into high growth markets, we believe current valuations accurately reflect these positive attributes."

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 $46.00 yesterday.

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