Fleetcor price target raised to $325 from $300 at Citi

Citi analyst Peter Christiansen raised the firm’s price target on Fleetcor (FLT) to $325 from $300 and keeps a Buy rating on the shares. The analyst says the company’s setup indicates slightly higher earnings growth versus Wex (WEX). Incremental upside sources for Fleetcor are in-vehicle payments, Corporate Pay strength, and potential non-core divestitures, the analyst tells investors in a research note. Citi believes there’s equilibrium between the two, though it it says upside catalysts for Fleetcor “seem more tangible nearer-term.”