Fleetcor price target lowered to $330 from $340 at BMO Capital

BMO Capital analyst Rufus Hone lowered the firm’s price target on Fleetcor to $330 from $340 but keeps an Outperform rating on the shares. The company reported “mixed” Q4 results, but it should return to low double-digit organic revenue growth and 20% EPS growth over time, the analyst tells investors in a research note. Fleetcor’s ongoing mix shift will prove value/growth accretive, and BMO recommend the stock as a core mid-cap holding within its FinTech coverage, the firm added.