Corpay (CPAY) PT Raised to $415 at Morgan Stanley

Morgan Stanley analyst Michael Infante raised the price target on Corpay (NYSE: CPAY) to $415.00 (from $400.00) while maintaining a Overweight rating.

The analyst comments "Near-term debate is whether 2Q organic growth holds at 10% or rounds to 9%. We think sales investment, retention, and mix keep the 10% algorithm intact. Medium-term focus is whether Corporate Payments can sustain mid-teens+ growth as the base scales. We think it will, particularly with higher S&M intensity We believe Vehicle can sustain 8–10% organic growth as Brazil revenue per tag proves resilient and improving U.S. freight supports same-store sales. See tactical modeling considerations towards the bottom of the note, including on fuel, FX, Lodging, and repurchases At roughly 13x our 2028 GAAP EPS, capital deployment is under-modeled. We estimate $6.1bn of 2026–28 FCF against only $2.1bn of buybacks."

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