Compass Point Starts Wright Express (WXS) at Neutral
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Price: $75.99 -0.5%
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 6 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 Wright Express (NYSE: WXS) with a Neutral rating and $62 price target.
The firm notes Wright Express operates proprietary networks reaching 90% of domestic retail fuel locations. Long-standing relationships are in place with each of the six largest domestic fleet management companies. In the range of 50% of total revenues are directly linked to the price of fuel. Somewhat dampened by a hedging program, the firm expects relative revenue growth outperformance compared to FleetCor (NYSE: FLT) in a rising fuel price environment (all else equal).
Unique to Wright Express is a wholly owned bank subsidiary, FSC.
For an analyst ratings summary and ratings history on Wright Express click here. For more ratings news on Wright Express click here.
Shares of Wright Express closed at $61.35 yesterday.
The firm notes Wright Express operates proprietary networks reaching 90% of domestic retail fuel locations. Long-standing relationships are in place with each of the six largest domestic fleet management companies. In the range of 50% of total revenues are directly linked to the price of fuel. Somewhat dampened by a hedging program, the firm expects relative revenue growth outperformance compared to FleetCor (NYSE: FLT) in a rising fuel price environment (all else equal).
Unique to Wright Express is a wholly owned bank subsidiary, FSC.
For an analyst ratings summary and ratings history on Wright Express click here. For more ratings news on Wright Express click here.
Shares of Wright Express closed at $61.35 yesterday.
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