Corpay initiated with a Perform at Oppenheimer

Oppenheimer analyst Rayna Kumar initiated coverage of Corpay (CPAY) with a Perform rating and no price target The company’s recent investments in sales and marketing should “re-fuel” its organic sales growth, the analyst tells investors in a research note. The firm says that while Corpay appears poised to return to low double-digit organic revenue growth, macro risks persist given the company’s exposure to small businesses, travel, and fuel prices. Opco is on the sidelines “solely” on Corpay’s susceptibility to the macro environment.