Wex initiated with a Hold at Deutsche Bank

Deutsche Bank analyst Nate Svensson initiated coverage of Wex with a Hold rating and $190 price target. The company has seen “broad momentum” across its business following a post-pandemic normalization period, the analyst tells investors in a research note. While optimistic on the long-term outlook for Wex across each of its operating units, the firm sees a more balanced risk/reward profile ahead.