Fleetcor price target raised to $302 from $270 at RBC Capital

RBC Capital raised the firm’s price target on Fleetcor to $302 from $270 and keeps a Sector Perform rating on the shares. The company’s Q4 results were “mixed” with areas of weakness in certain of the company’s U.S. businesses, especially Lodging, gift card shipments, and lower late fees, as Fleetcor shifts away from micro merchants in Fuel and channel partner business in Corporate Payments, the analyst tells investors in a research note.