WEX Inc. (WEX) PT Raised to $240 at Jefferies

Jefferies analyst Trevor Williams raised the price target on WEX Inc. (NYSE: WEX) to $240.00 (from $235.00) while maintaining a Hold rating.

The analyst commented: "Higher fuel should flow through to above-Street guide for 2Q and lift to FY outlook; organic question marks likely prevent further re-rating. Flowing through higher fuel ($3.79 for 2Q / $3.68 for FY) puts our 2Q revenue ~2.5% above Street and FY 1.5% above. We believe the stock's recent outperf. fully discounts the impending raise, with a further re-rating unlikely as we still see an uphill path to 6% Y/Y organic/ex-fuel Mobility growth (gallon volume growth must reach ~9% by 4Q vs. ~flat in 1Q) and limited upside in Corp. Pay (travel slowing) and Health (muted account growth).'

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