Corpay price target raised to $390 from $350 at BMO Capital

BMO Capital raised the firm’s price target on Corpay to $390 from $350 and keeps an Outperform rating as part of a broader research note previewing Q3 earnings for Financial Technology names. Fintech stocks have underperformed both the Financial Select Sector SPDR Fund (XLF) and the S&P500 year-to-date, with significant dispersion in share price performance across the firm’s coverage universe, but the firm remains “broadly bullish” on the medium-term setup for Fintech stocks, with investors increasingly rewarding consistency of execution and credible top-line/gross profit acceleration narratives, the analyst tells investors in a research note. For Corpay, BMO adds that it sees upside potential to consensus EPS in 2025 primarily due to incorporating accretive M&A and continued strong organic growth in Corporate Payments.