Fleetcor price target raised to $335 from $315 at Truist

Truist raised the firm’s price target on Fleetcor to $335 from $315 and keeps a Buy rating on the shares as part of a broader research note on FinTech names. After a strong Q4, the firm sees “more of the same” for the group as investors add exposure in a soft landing and press multiple expansion for fast-growing Digital FinTechs that are approaching profitability, the analyst tells investors in a research note. Fleetcor stands to benefit from sustained B2B organic revenue growth acceleration, bottoming Fuel segment fundamentals, and plans to accelerate top-line growth through an ambitious Corpay/Consumer/EV strategy, Truist added.