Corpay price target raised to $355 from $340 at Barclays

Barclays analyst Ramsey El-Assal raised the firm’s price target on Corpay to $355 from $340 and keeps an Overweight rating on the shares as part of a Q1 earnings preview for the financial technology group. The sector appears to be setting up well into the Q1 earnings season, as fiscal 2024 outlooks have been largely set at reasonable levels, the analyst tells investors in a research note. The firm says consumer spending trends have remained healthy in Q1, bouncing back following the impact of unseasonably cold weather in January.