Wex price target raised to $230 from $193 at Wells Fargo

Wells Fargo analyst Jeff Cantwell raised the firm’s price target on Wex to $230 from $193 and keeps an Overweight rating on the shares. Wex reported "strong" Q4 results and 2023 guidance, and the firm expects a further positive response in the shares from here, the analyst tells investors in a research note. Wells Fargo views shares as undervalued.