Morgan Stanley analyst James Faucette raised the firm’s price target on Corpay (CPAY) to $325 from $275 and keeps an Equal Weight rating on the shares. The magnitude of Q4 organic acceleration and CEO compensation adjustments were “likely the key drivers of share price softness” following the Q3 pre-announcement, says the analyst, who still believes mid-teens EPS growth is “in play next year while the multiple remains undemanding.”
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CPAY:
- Boeing to offer 90M common shares, Philips reports mixed Q3: Morning Buzz
- Corpay Inc Announces Strong Q3 Results and CEO Changes
- Corpay reports preliminary Q3 adjusted EPS $5.00, consensus $4.96
- Corpay price target raised to $415 from $385 at Barclays
- Corpay price target raised to $320 from $285 at Wells Fargo