Wex price target raised to $210 from $195 at Credit Suisse

Credit Suisse analyst Nik Cremo raised the firm’s price target on Wex to $210 from $195 and keeps a Neutral rating on the shares. Wex reported a relatively in-line quarter, resulting in a second consecutive quarter of raising the 2023 guidance for both revenue and adjusted EPS, the analyst tells investors in a research note. The quarterly results were encouraging with improving credit metrics but Credit Suisse remains cautious on the core Mobility segment near-term until there are signs of improvement from the OTR fleet customers and segment transaction growth.