Baird analyst David Koning upgraded FleetCor Technologies to Outperform from Neutral with a price target of $254, up from $235. The analyst likes the company’s 9%-10% organic growth profile in 2023, saying it comes at a time when many companies may be affected by the macro environment. FleetCor’s current stock multiple is indicative of a limited growth company, but it could earnings 15% per year excluding fuel in the coming years, the analyst tells investors in a research note.
Published first on TheFly
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- FleetCor price target raised to $240 from $226 at RBC Capital
- FleetCor price target raised to $240 from $225 at Wells Fargo
- FleetCor sees Q1 adjusted EPS $3.55-$3.75, consensus $3.82
- FleetCor sees FY23 adjusted EPS $16.25-$17.25, consensus $17.09
- FleetCor reports Q4 adjusted EPS $4.04, consensus $3.93
