FleetCor upgraded to Outperform from Neutral at Baird
The Fly

FleetCor upgraded to Outperform from Neutral at Baird

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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