Wex price target raised to $280 from $240 at Citi

Citi raised the firm’s price target on Wex to $280 from $240 and keeps a Buy rating on the shares. The firm remains bullish on the shares following a model update. The stock has seen multiple expansion in recent months, attributable to a rising market multiple as well as increasing investor confidence in its trajectory towards “re-realizing” normalized mid-teens earnings growth sustainably, the analyst tells investors in a research note.