WEX Inc. (WEX) PT Raised to $172 at Morgan Stanley

Morgan Stanley analyst Michael N Infante raised the price target on WEX Inc. (NYSE: WEX) to $172.00 (from $161.00) while maintaining a Equalweight rating.

The analyst comments "Expecting near-term Mobility upside on the back of recent fuel spikes, even as we build in fairly punitive net late fee revenue in '26 on late fee optimization. Freight green shoots are improving, but sustained SSS acceleration remains the key condition for multiple expansion. Roughly 15% cumulative EBITDA growth and 13% annual share reduction could lift EBITDA per share 52% and drive a 23% IRR at a flat multiple. Sub-segment CP build suggests little is required of Travel in 2H26 / '27 to meet consensus, even as travel-exposed companies are seeing meaningful revisions. Raising estimates as we layer in recent fuel-price strength and the forward curve; PT increases to $172 as we roll forward to '28."

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