Wex price target raised to $200 from $190 at Baird

Baird analyst David Koning raised the firm’s price target on Wex to $200 from $190 and keeps an Outperform rating on the shares. The analyst expects Q4 revenue/EPS to be mildly above consensus and initial 2023 guidance around consensus. Baird believes its core growth remains solid and valuation is inexpensive for likely high-single-digits/low-double-digits organic growth.