Wex price target raised to $235 from $225 at Mizuho

Mizuho raised the firm’s price target on Wex (WEX) to $235 from $225 and keeps a Buy rating on the shares post the “solid” Q4 results. After lagging in prior quarters, Q4 saw Wex narrowing both fuel card and corporate payments excluding travel organic growth spread versus Fleetcor (FLT), the analyst tells investors in a research note. The firm says another reason to like Wex is that its fiscal 2024 guidance “errs on the conservative side.”