Corpay upgraded to Peer Perform from Underperform at Wolfe Research

Wolfe Research upgraded Corpay to Peer Perform from Underperform without a price target. After two quarters of mid-single-digit organic growth, easing compares and improved sales execution sets up well for a back-half growth acceleration, the analyst tells investors in a research note. While Wolfe still sees risk to Corpay’s Q4 results, it believes an acceleration towards a low-double-digit exit-rate is enough to warrant a Peer Perform rating.