Wolfe Research upgraded Corpay (CPAY) to Outperform from Peer Perform with a $420 price target The firm believes Corpay’s low-double-digit sales and mid-teens earnings algorithm is worthy of a mid-to-high teens multiple versus the low-teens today, the analyst tells investors in a research note. The company expects growth to jump from 6% macro adjusted in Q3 to 12% in Q4, and Wolfe says easier year-over-year compares drive its confidence not only for Q4 but through the first half of 2025.
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