UPDATE: Evercore ISI Assumes FleetCor Technologies (FLT) at Outperform
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Evercore ISI analyst Sheriq Sumar assumes coverage on FleetCor Technologies (NYSE: FLT) with a Outperform rating and a price target of $300.00.
The analyst comments "We are assuming lead coverage of FLT from David Togut with an Outperform rating. Our 12-month target price of $300 for FLT implies 21% upside. We view FLT and WEX as pioneers in B2B payments enabling businesses to manage payments efficiently through constant innovation and product expansion. We expect FLT to deliver double-digit EPS growth in the medium term amidst: A) multiple secular and cyclical tailwinds driving double digit organic revenue growth, B) margin expansion, and C) robust capital allocation strategy."
Shares of FleetCor Technologies closed at $242.72 yesterday.
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