Fleetcor price target raised to $340 from $314 at Barclays

Barclays raised the firm’s price target on Fleetcor to $340 from $314 and keeps an Overweight rating on the shares. The analyst remains positive on the Americas payments, processors and IT services sector heading into 2024. Investor sentiment “has become largely unmoored from fundamentals” and business models in the sector “have remained quite intact,” the analyst tells investors in a research note. Against this backdrop the firm sees “some compelling opportunities emerging” into the Q4 earnings season.