Corpay price target raised to $331 from $326 at BofA

BofA raised the firm’s price target on Corpay to $331 from $326 and keeps a Buy rating on the shares after the company held a conference call to discuss synergies from the GPS Capital Markets acquisition and provided preliminary 2025 revenue guidance for the Corporate Payments segment, which includes contribution from GPS and the recently acquired Paymerang. The firm, which notes that Corpay expects GPS and the Paymerang acquisition to drive at a minimum 30c of EPS accretion in 2025 and “2-3x that in 2026,” views the call and disclosures positively, the analyst tells investors.