Raymond James analyst John Davis upgraded FleetCor to Outperform from Market Perform with a $254 price target. D.E. Shaw’s involvement and corresponding strategic review skews the risk/reward favorably, and the firm’s math suggests that separating the Corporate Payments business through a sale or spin off would create significant shareholder value, the analyst tells investors in a research note. In addition, Raymond James sees potential further catalysts from the resolution of the FTC suit as well as EPS growth acceleration next year.
Published first on TheFly
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