Wex upgraded to Buy at BofA as revenue growth returns

As previously reported, BofA upgraded Wex (WEX) to Buy from Neutral with an unchanged price target of $178. The firm thinks the company is “turning the corner on growth” and expects Wex to report positive revenue growth for the first time in four quarters when it reports Q3 results on October 29, the analyst tells investors. Given the current “attractive” valuation, the firm thinks the risk/reward is “skewed positively,” the analyst added.