UPDATE: Evercore ISI Assumes FleetCor Technologies (FLT) at Outperform
- Nasdaq closes lower as chipmaker Micron's warning renews tech rout
- Citi’s Top Equity Strategist Warns Analysts are Too Bullish on Stocks
- Bank of America Clients Continue to Buy the Rally, New Data Shows
- Novavax (NVAX) Crashes 30% After a Deep Guidance Cut, Analyst 'Frustrated'
- 'Hard to Say' Whether Current Crypto Bear Market is Over - Morgan Stanley
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.
You May Also Be Interested In
- KakaoBank Corp (323410:KS) PT Lowered to KRW27,300 at HSBC
- Hargreaves Lansdown PLC (HL/:LN) (HRGLF) PT Raised to GBP10 at Berenberg
- Indus Towers Ltd (INDUSTOW:IN) PT Lowered to INR280 at Deutsche Bank
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!