Wex price target lowered to $185 from $205 at Truist

Truist lowered the firm’s price target on Wex to $185 from $205 and keeps a Hold rating on the shares. The company is proving out its value proposition as its Healthcare cloud now hosts HSA solutions for 9 out of 20 top providers, though the firm is also anticipating a 2024 float income deceleration given the likely stable or declining rates, the analyst tells investors in a research note.