Trevor Williams, an analyst from Jefferies, maintained the Buy rating on Corpay Inc (CPAY – Research Report). The associated price target was raised to $450.00.
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Trevor Williams has given his Buy rating due to a combination of factors that indicate Corpay Inc’s strong potential for growth despite some short-term challenges. The company’s projected organic growth rate of 11% for the fiscal year underscores its underlying robustness. Trevor notes that while the FY25 EPS outlook has been adjusted downward due to unfavorable foreign exchange rates, interest rates, and fuel prices, these macroeconomic factors are external and do not reflect the company’s core performance.
Additionally, Trevor points out that the company’s strategic focus on corporate payments and potential mergers and acquisitions in FY25 could further accelerate growth. The valuation currently does not fully capture the company’s anticipated durable growth rate of approximately 10% organically. Moreover, the expansion of Corpay’s full accounts payable automation capabilities into larger enterprises opens up new market opportunities, contributing to a positive long-term outlook.
According to TipRanks, Williams is a 4-star analyst with an average return of 3.8% and a 56.76% success rate. Williams covers the Financial sector, focusing on stocks such as PayPal Holdings, Mastercard, and Visa.
In another report released today, Robert W. Baird also maintained a Buy rating on the stock with a $440.00 price target.